pimpjui

Speculators Continue to Drive Oil Higher at Risk of Global Recession

Sort of silly hypothesis. If true, then when oil starts tanking back down to $50, then I guess it has to be them darn "speculators" as well. Oil is increasing in dollar terms because the dollar is losing its value to just about everything. The causes of this are far and wide, but most critical is the US trade balance. Simply put, America is not selling enough goods that the rest of the world wants. Hence less demand for the the dollar to pay for these things. Blaming speculators (or any other group of people) is usually a last ditch effort to divert attention away from the real cause of problems....right before the end....