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Why Are Oil Prices Going Up?

Published May 17, 2016 at 1:33 PM EDT
A sign shows gas prices nearing $5 a gallon for regular unleaded at a Shell service station on March 5, 2012 in Los Angeles, California. According to AAA the average price of regular unleaded gasoline climbed three-tenths of a cent nationwide as a result of high oil prices and tensions tied to Iran's nuclear program. (Kevork Djansezian/Getty Images)
A sign shows gas prices nearing $5 a gallon for regular unleaded at a Shell service station on March 5, 2012 in Los Angeles, California. According to AAA the average price of regular unleaded gasoline climbed three-tenths of a cent nationwide as a result of high oil prices and tensions tied to Iran's nuclear program. (Kevork Djansezian/Getty Images)

Oil prices hit a six-month high yesterday and could reach $50 a barrel for the first time since November. For the past two years, the global demand for oil has been less than supply, but that may be changing. Here & Now’s Robin Young speaks with Jason Bellini of The Wall Street Journal.

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