I am inclined to agree with that. I've noticed that every time the DOE or futures traders make any statement about inventories, they always have to include the fear factor ie IRAN Nigeria Hugos follies etc. With the exception of Nigeria, all the other suppliers I would say they are pumping it out at almost full capacity. Why wouldn't they want to cash in while the price is up. If the DOE and traders would just shut up for three days, I'd be curious to see where the price per barrel goes.
"I am inclined to agree with that. I've noticed that every time the DOE or futures traders make any statement about inventories, they always have to include the fear factor ie IRAN Nigeria Hugos follies etc. With the exception of Nigeria, all the other suppliers I would say they are pumping it out at almost full capacity. Why wouldn't they want to cash in while the price is up. If the DOE and traders would just shut up for three days, I'd be curious to see where the price per barrel goes."
I believe the tightness of supply has set up the conditions for the traders to manipulate the market. Every time a Senator screams "investigation" the price drops a couple of bucks immediately.