Clean Energy (CLNE)

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The price of gas, diesel are going higher. How high will diesel be by July August?

The Saudis say $80 - is that a projection or a wish?

Last week, the Saudi oil minister said that he believes Brent crude is heading for the $80 per barrel level. With Brent trading at $72 at the end of last week, a rise to that level means another more than 10% gain in the price of the energy commodity.

Crude oil is rallying for a combination of reasons. While economic growth around the world is supportive for the price, the geopolitical landscape in the Middle East is potentially explosive for the price of oil. Events that cause more violence in the region that could impact production, refining, or logistical routes in the area have the potential to cause short-term price spikes to the upside in the oil futures market. $80 crude oil is a hope and wish for the Saudis, but in the current environment, it could become a reality sooner rather than later.

When it comes to technical factors, the price of crude oil currently has plenty of blue sky available on the upside.