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  • A Sloppy 60 Minutes Segment on Oil Prices [View article]
    Sorry, didn't watch the program. I don't think speculation was the main driving force. I think speculation was the ONLY driving force in the beginning of this year. As far as I know (correct me if I'm wrong) contracts for actual delivery we only about 2% of total volume from Ferbuary to July. That means that supply and demand for actual product didn't matter, only supply and demand of future contracts. I can agree that some other factors played in oil price growth from 60 to 90. But from 90 to 147 it was pure speculation. Parabolic chart confirms that and end result (market crash) confirms that as well.
    Jan 12 18:33 pm |Rating: +1 0
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