High oil prices are back, as forecast for global demand rises

There are two ways one can interpret the International Energy Agency's first increase in its oil demand forecast in 10 months.

Those who see a dark cloud would note the rising price of oil and it's likely drag effect on the U.S. and most of the global economy. Oil has shot through $70 per barrel, rising 66 cents to $71.99 Thursday, as traders and investors anticipate a return to oil demand increases outpacing supply increases -- once again pressuring the safety cushion between supply and demand.