Who? The nasty speculators? What about the speculators who are short a contract?
If the oil producers don’t have it reserved for them, then it isn’t a contract.
You don't think all contracts are sold by oil producers, do you?
They purchase a contract for future delivery with the sole intent of reselling it,
When they buy the contract, it makes prices rise? When they resell it, don't prices go down?
I think you need to go back to square one and learn how speculation works. Here’s a good start:
http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm
People who deny that speculation raises the price of oil beyond its actual worth are basically living under a rock.