Quote:
Originally Posted by PaulT
It's the futures traders that have driving oil up over $111/bbl unfortunately.
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With all due respect, your statement identifies that you don't understand how the futures markets work. For every buyer of a future, there is a seller. When your mother pre buys her oil for next year, she is a speculator. She is not doing it because she thinks the price is going to go down, she is willing to risk a higher price to offset the risk of an even higher price. The futures markets are a free market way of people to shed and assume risk. Some people use it as a casino as well. The vast majority of them loose money doing it.
As a private citizen you are equally free to sell a future to "drive the price down". Then buy it when the price is lower. Every dollar made by one is lost by another.