[Obadiah]

Yet more documentation that trading/speculating - not supply and demand - is and has been driving oil prices.

[the invisib1e hand]

Yet more documentation that trading/speculating - not supply and demand - is and has been driving oil prices.

Prove it.

[thackney]

Don't confuse supply and demand with actual consumption and production. Supply is what sellers are willing to sell at varying quantities; demand is what buyers are willing to buy at varying quantities. If I own a refinery, and hurricane season approaches, I'm willing to pay more for a reliable delivery of crude oil. I will probably keep more stock on hand. Changing conditions move the supply and demand curves to intersect at new points and therefor a new sell price.