Saffie

What's the Real Story With the Price of Crude Oil?

- - - - creates incentives for speculators to purchase oil, take it off the market, store it and then sell it at some point in the future - - -

Now I get it. So those cool dudes in Armani suits, driving tankers full of crude are the speculators taking the oil off the market for storage. Where are these storage depots, pray tell ? In a tank farm in the backyard of the speculator's house in Brooklyn?