''Go 'way, little boy, ya baahhhther me.''
The price of anything, you bloody moron, is set by a willing buyer and a willing seller when they agree on a price.
If specs went away from some mkt, entirely, what would happen is that the bid/ask spread in that mkt would widen out considerably, everyone's costs would go up, and there would be considerably fewer transactions in that mkt.
By the time ANYBODY in crude gets delivery, the price is absolutely guaranteed to have changed from both their entry price and the price at contract expiration. There's a lag of 15-45 days between contract expiration and delivery, therefore NEITHER the person making delivery nor the person taking delivery ''sets'' any sort of price whatever.
Take your economically illiterate gradeschool garbage out somewhere and bury it. Don't bother getting a life; get a clue about the operation of mkts somewhere.
Hey, maybe you can buy a clue, and ''set the price''. Jay-zus!
So, you are saying that a speculator cannot set the price? That is the point I was hoping to make. Perhaps you said it better.
You know, you really don't have to be such an asshole to someone to hold a conversation... That clue is free by the way.
The price of anything, you bloody moron, is set by a willing buyer and a willing seller when they agree on a price.
...therefore NEITHER the person making delivery nor the person taking delivery ''sets'' any sort of price whatever.
No comment.