Sure it is...and your proof is what?
I watch the oil markets with a live feed from NYMEX...and the oil market got hammered on the news...and has been selling the last three days steady...down 3.70 a BBL since Monday open...
Evidence? Gave it already.
BTW, NYMEX trading April contracts for refined at 1.60 at 12:38 PM EST. It is now trading 1.6280 at 2:20 PM EST. That would be UP. Now, if I recall correctly, NYMEX was trading March contracts in the low 1.50's. I mean the cold in the Northeast (NOT), the Chinese (NOT), Nigeria (NOT), Saudi terrorist (NOT), supply and demand (NOT see related threads), and Starits of Hormuz (see my post above).
Evidence? I've posted two threads that gives cold hard facts, and historical context that counter the wild speculation. But the speculators always counter with demands of proof. Sheesh that's ballsy.
BTW, how many related jobs will be lost when GM and Ford close their plants because gasoline prices have been so high, based on speculation. Let's see there's 55,000 direct losses and a ratio of 1 in 6 jobs interconnected to automotive manufacture in this country.
Here's to the speculator and hedge fund manager: Consistently giving Americans real world jobs for unknown years.