The price of oil surged 2% today on after French port workers announced they would strike.

Oil prices today hit an intraday high of $118.99 a barrel, the highest level since April 28, when the price of oil per barrel reached an intraday record of $119.93.

“A lot of smart people are beginning to believe this bull market in oil will die hard,” says Alexander Green over at InvestmentU.com.

For years, I’ve been telling hushed, incredulous audiences around the world that oil prices were headed higher – much higher. I consistently list three causes: Supply, demand, and interruption.