WTI oil blasts to 4-year highs – Could the mid-70s be next?

Last week, West Texas Intermediate crude oil traded down to $63.70 per barrel intraday, the same level it was trading at in early January. Much like the US stock market, prices had traveled both higher and lower in the first six months of the year, but was trading essentially unchanged from the level seen on the first trading day of the year.