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What's Behind the U-Turn in Oil Prices? [View article]
What is the total value of contracts traded on NYMEX daily?
What is the daily total value of physical oil shipments globally?
I'm heaing a lot of talk recently saying that NYMEX is amplifying oil price moves up and down because its total contract values are comparatively small. Hence, whether the money flowing into NYMEX is for genuine hedging purposes or for pure investment/speculative purposes, if total daily NYMEX contract values are indeed relativley small, this might help explain why NYMEX oil prices are not as apparently rationale as many pundits have expected.