about $10-15 in the price per bbl is coming from hedge funds and speculation from brokerage houses. but the administration refuses to engage itself to break that bubble, so prices rise, and as they do, the president's approval ratings fall.
You are on the mark, but note that no one will respond to this.
When the Futures Market tried to inflate crude prices about 15 years ago, they couldn't carry enough investors (patsies) and after their money dried up the market tumbled back down. I was looking for brokers jumping out windows, but they seemed to have hedged themselves.