oil speculation

Oil gamble on Wall Street? Speculation back in the headlines

President Obama is hammering on oil speculators again, while Republican opponents such as House Speaker John Boehner and presumptive presidential nominee Mitt Romney are calling the talk about speculation hooey, falling back on the same old "drill, baby, drill"-type rhetoric we've heard so much of in recent past. Problem with the latter is, well, we are drilling. Domestic oil production is up. Problem with the former is the very White House task forces on the ...

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Analyst: Blame Fed’s liquidity flood for high oil/diesel

The good news is that skyrocketing oil prices, like slasher movies, are truly frightening only the first time you watch one. They get less scary with repetition. But being less scary doesn't change the basic facts. Markets need both hedgers and speculators to function properly. When they lose balance, they no longer function according to true supply and demand. --journalist Ed Wallace, writing in Bloomberg Businessweek Up, up, up... Excessive speculation is taken as a given ...

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Back to the past: $4 diesel returns

Well it's official, folks. The Energy Information Administration's weekly diesel report this week showed the national average with 3 cents of the $4 mark, reaching the highest point yet in the now near nine-month run-up in price we've seen since last August, by now oh-so eerily reminiscent of the 2007-08 run (an Overdrive headline in April 2008 read, "No April Fool's joke: $4 diesel"). This blow-up is ever more remarkable in what it's been revealing about the glacial ...

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