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GH
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"So-called speculative net long positions fell to 25,867 contracts on the New York Mercantile Exchange in the week ended May 27 from a record 127,491 on July 31, according to a U.S. Commodity Futures Trading Commission report on May 30.""
Jun 26 11:17 am
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All Comments by GH »How Big a Contribution Comes from Oil Speculation? [View article]
That trading moved from the NYMEX to the ICE to dodge regulation. Bush's head of the CFTC is in on this con, which was originally set up as Enron's loophole by Phil Gramm (McCain's chief economic advisor) and his wife. I believe Senate Commerce Committee testimony before I believe anything on SeekingAlpha (although Mr. Hamilton seems to have an excellent understanding in my humble opinion).