| 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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