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Are speculators behind oil price distortions?

Posted on 01 July 2013

WTI, traded on CME Group Inc.’s New York Mercantile Exchange, is the world’s biggest energy-futures contract. Will FTC delve deep into this issue of price distortion, remains to be seen? The WTI today is hovering at around $95/barrel on NYMEX, while only a few years ago, during the early months of the Obama’s first term, it was in mid-30s.
This all is baffling to analysts; especially when one considers that US inventories are near all time record highs, that American oil production is expanding dramatically, that American consumers are using significantly less gasoline/diesel than even a few years ago, and natural gas heating units are replacing oil heating units in homes all over America………………………………….Full Article: Source


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VRS - who has written 36088 posts on Opalesque Commodities Briefing.


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