The price of WTI crude settled at $110.30/B on 7 April and Brent closed at $122.67 as fighting in Libya and restlessness in other Arab states pushes the market in an upward spiral. Crude prices are now at their highest since September 2008, when they were on their way down with the onset of the global economic crisis. Now, as then, OPEC says high prices stem from speculation in the market, that the fundamentals of the market are in balance, and that it is keeping the world well supplied.