[Post-Neolithic]

Don't kid yourselves, the speculators have an itchy finger on the oil price button. Whatever pops up that they can say will hurt oil production/consumption(In their greedy minds), will send them on a price hiking frenzy.

Just the mention of the Syria incident this morning had them pushing that button gleefully, never mind that it had nothing to do with oil.

However once word got out that it was nothing, they had no choice but to go back to watching that button.

I have said it before and I will say it again, Supply and Demand my rump. Speculators control oil prices not the consumer.

[rightwingextremist1776]

So, please explain how the speculators did during the $11.00 a barrel days? Their fingers must have slipped off the button back then eh?

[thackney]

Speculators can make money on the price going down as easily as it going up. A steady high price is not driven by speculation. If a speculator buys futures at $75 a barrel and sells it at $75 barrel it cost them money for the trade.