It spent January at around $94 a barrel, then went to $98 for February, jumped to $110 in March and has now gone to $120. That all can be seen in the daily chart above. But the chart of monthly averages below makes it much clearer. President Ahmadi-nejad says oil will go to $150 a barrel. It may well do so, but we wouldn’t cite the president as a great prognosticator.