Over the past couple of decades, WTI Crude Oil has been actively spiking and plummeting between $40.00 and $80.00 to briefly test and spike the waters above $100.00, creating "froth," which has easily been blown off, as shown on the monthly chart below.
In so doing, a "median" price of $60.00 has been established, to where Oil either retreats in times of abundance (and lower prices) or surpasses on its way to scarcity (and higher prices).
As long as the world's supply of Oil remains in the ever-changing hands of differing political idealogues with competing energy agendas, uncertainty will continue to dominate its price, producing wild fluctuations in the years to come.
For now, the "median" price and "fair value" seem to be fixed at $60.00.