Speculators drive prices proven by the latest fluctuations – Phillips 6/4 – Writer for BusinessWeek [Matthew, 6/4/2012, BusinessWeek, Oil Prices Are No Mystery,” “Falling http://www.businessweek.com/articles/2012-06-04/falling-oil-prices-are-no-mystery] price declines have coincided with a steep selloff in oil futures contracts Speculators The over the last two months. cut their net-long positions—bets that the price will rise—to the equivalent of 136 million barrels of oil, the lowest level since September 2010, This follows a huge according to the Commodity Futures Trading Commission. speculative buying binge. Oil prices spiked from October through March—a fueled by six-month bull run speculative worry over an Iranian supply disruption.
Speculators drive prices – proven by the latest fluctuations Phillips 6/4 – Writer for BusinessWeek [Matthew, 6/4/2012, BusinessWeek, “Falling Oil Prices Are No Mystery,” http://www.businessweek.com/articles/2012-06-04/falling-oil-prices-are-no-mystery] The price declines have coincided with a steep selloff in oil futures contracts over the last two months. Speculators cut their net-long positions—bets that the price will rise—to the equivalent of 136 million barrels of oil, the lowest level since September 2010, according to the Commodity Futures Trading Commission. This follows a huge speculative buying binge. Oil prices spiked from October through March—a six-month bull run fueled by speculative worry over an Iranian supply disruption.
Oil_DA___Seniors___NDI_2012.docx