Good, bad speculation and the oil price
Aug 26th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Many see speculation as the reason for the recent capricious movement in the oil price. Since the volume of trade on the futures markets can be ten times greater than production - so a frequently voiced assertion - the oil price today is purely speculative, and neither the producing countries nor the end users are able to influence it much. Gamblers at their terminals destabilise the markets and thus the whole world.