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Even though inventories have increased in most developed countriesand oil production is up globally,oil prices are still on the rise. This is in part due to the ongoing unrest between Russia and Ukraine but mostly tensions in the middle east. The Islamic State of Iraq and Syria (ISIS) has swept through Syria and overtaken a large portion of Iraq, including their second largest city of Mosul on June 9th. Many speculators, and large oil companies are worried that ISIS will affect Iraq's oil production and, later, the surrounding countries and their oil production. This fear is what is pushing the price up so quickly even though Iraqi oil production has not been significantly affected. We can onlyhope ISIS loses steam, for both the safety of the people of Iraq and more selfishly to stop speculators from pushing the price of oil higher and higher.