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Oil futures flew well over $120 a barrel to a new record following a Goldman Sachs forecast that lackluster growth in oil supplies worldwide could translate to $200 dollar a barrel oil over the next two years. But some energy analysts, like those at Citigroup, say oil supplies are "comfortable." Citi says oil could rise to $200 a barrel -- or, just as easily, fall to $40 dollars a barrel -- over the next couple of years. Fadel Gheit is Managing Director of oil and gas research for Oppenheimer. SOUNDBITE (English) FADEL GHEIT SAYING: "There is no shortage whatsoever. There is plenty of oil. All the refiners in the U.S. are cutting their runs because there is plenty of gasoline on the market." Oil prices have nearly doubled from a year ago. And everyone agrees the falling U.S. dollar is one key reason. Since oil is priced in dollars, a weaker dollar makes oil less expensive to investors overseas. Also, when the dollar does fall, investors often buy commodities, such as oil, as a hedge against inflation. While recent declines in oil production in Nigeria and Iraq are not easing supply worries, some market watchers say oil prices are much more influenced by speculators than by market fundamentals of supply and demand. Two U.S. senators are calling for a new federal task force to investigate whether speculators are, in fact, manipulating the markets. Whatever the outcome, one thing seems clear. SOUNDBITE (English) FADEL GHEIT SAYING: "No one can forecast oil prices with any, any degree of accuracy. Its like winning the lottery not because you are smart but because you are lucky." Sasha Salama, Reuters.