OIL PRICES MOVES
Forget the interplay between supply and demand. When it comes to oil prices, hedge funds and speculators are exerting an uncommonly large influence, say many in one of the world's most important markets.
Oil traders have watched future prices rally to their highest level this year, within touching distance of $70 a barrel, even as the price of physical cargoes flounders under the weight of a massive oversupply.
In an attempt to explain the conundrum, experienced traders are pointing at the influence of multibillion-dollar macro funds. While much of the increase in speculative demand has been driven by a perceived…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.