jeannie yurman looks at what's behind these price moves. >> reporter: forecasts for world oil demand are coming down and yet the price of oil remains relatively high near $100 a barrel. so where's the disconnect? analysts say it's a classic case of supply and demand. in this case, supply is tight. half a dozen countries have experienced supply disruptions in the past year and their output is still below normal, knocking a million barrels a day out of production. oil trader ray carbone says the mood in the trading pits is bullish. >> while global demand forecasts may be going down the oil market is fundamentally tight. we have some dwindling supplies especially in the north seas and we have potential demand there in the marketplace. >> reporter: and more countries, like china, are consuming oil adding to price pressures. since the lows in october, light sweet crude has soared 27.5% from $75.87 to close just under $99 in friday's session. some experts, however, believe psychology and speculation are playing the larger role in driving up crude. they note that oil traded around $140 a ba