The Oil price jumps again:

[jrittenhouse]

No, it’s not because of the demand, it’s because hedge funds and market speculators who drove it to $4-5 a gallon gas are going back into the market because they think that commodity is going to make money again.

Comments

[johnridley]

"A dude on NPR" said last week that the demand was up a bit, but it was demand of storage speculators. A lot of the oil being delivered right now is being stored in tanks on speculation of rising prices.

[shelleybear]

Socialism look good to you yet?

[dave_ifversen]

The last thing I heard was that there was (currently) a glut of oil, and we are running out of places to put it. A lot of oil is currently sitting in tankers that can't unload anywhere...

[kayshapero]

Oh Lord - we barely survived the last one. Of ALL the commodities to play that game with, they pick the one that affects the price of absolutely everything that has to be moved from point A to point B. Can't these guys go pick on tulips or something?