Do not underestimate the ability of market engineers to manipulate the perception of shortages, inventory levels, and possible attacks on producers to ramp the crude price further. As energy prices rise so does inflation and guess who's adding weight to the raise euro rate camp today? Mr Paulson.

Will, UK, UK

What do we expect when inflation is running out of control, oil will continue to raise and we will see $200 and $300 a barrel prices, because the central bankers will just continue to print money even if they are talking tough on raising inflation.

Steve, Edgware, UK

I agree Horance. The collapse of the dollar and thus the American empire can be easily seen through the devaluation of the dollar compared to real world commodities. Paper dollars will soon only have heat value unless they are backed by tangible assets such as oil. Iran sells oil in euro/yen. good!

Jon Wilson, Glasgow, Scotland

The west is simply starting to give back what is has been stealing from the rest of the planet for more than half of a century.... People call this "turmoil" but it is simply the world finding its balance.

Horace, Firenze (Florence), Italy