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Commodities Briefing - Categorized | Oil, Price Watch more

Why are oil prices high?

Posted on 16 September 2013

For the ancient Greeks, predictions emerged from Delphi, the omphalos, or navel, of the world. Most moderns probably think that oil price forecasts come from a different orifice.
Academics sometimes explain that oil prices are stochastic (a fancy word for ‘random’), but this is more a way of avoiding the issue than anything else. Politicians and consumers often argue that speculators are to blame for price fluctuations, a long-standing rationalization for an inability to explain why prices don’t do what they want………………………………………..Full Article: Source


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