Saturday, June 7, 2008

Is Oil going up - or are the speculators doing it?

In case you didn't hear about it, crude oil just went up to $10 a barrel on Friday.

I personally think that's kind of ridiculous and I'm seriously beginning to wonder where this comes from. Apparently the speculators can simply 'guess' or speculate on how much gas should be and shortly after that, we end up with higher gas prices.

The funny things is people are driving less so demand is down. The speculation puzzles me.

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