Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Very interesting, but you didn't really answer the question. Is real-world oil (mainly) priced on fundamentals, or is there really a (substantial) influence on pricing played by speculation in the futures market?

From your answer-essay, I would still have to guess that oil is, at the day or week of reckoning, priced by demand. Short of actual large-scale hoarding (longer than, say, 30 days -- which to me sounds implausible), I can't see how speculators could cause oil to change hands at a price very far from the one dictated by the laws of supply and demand.

by Ralph on Mon Mar 31st, 2008 at 04:37:24 PM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

Duplicity

by Frank Schnittger - Oct 20
60 comments

So what went wrong?

by Frank Schnittger - Oct 22
15 comments

Trump's Presidency Transfixed

by ARGeezer - Oct 17
26 comments

Ulster says NO!

by Frank Schnittger - Oct 17
44 comments

Spain is not a democracy

by IdiotSavant - Oct 14
10 comments

Occasional Series