01.07.2013 - Are speculators behind oil price distortions?
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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