Have oil traders been spooked by Ben Bernake’s recent talk of “intensified” upside risk to the “inflation outlook”? Chuck Butler thinks so.

Will crude oil prices continue their slide? Today, crude oil futures rebounded from the biggest four-day decline in more than three years. Oil rose “on speculation that prices fell too far,” says Bloomberg.

Chuck doesn’t see oil prices dropping back down to $85 a dollar. Not with supply-and-demand as it is right now…