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re: Why is the price of oil going up?
Posted on 4/7/10 at 11:36 am to baybeefeetz
Posted on 4/7/10 at 11:36 am to baybeefeetz
quote:
Is it just that summer is approaching or do you think something else is going on? Of course, there are probably many reasons, but what are your theories?
Supply/Demand plus futures trading (speculation). For the most part the oil supply is a mystery - the Saudis are very tight with info on their production.
1
Posted on 4/7/10 at 1:46 pm to cwill
quote:
For what it is worth, I heard on the radio yesterday that it has NOTHING to do with supply/demand BUT that it is speculators ... this is NOT me saying this but repeating what I heard to answer your question.
Bingo, when oil was 150 a barrel the surplus stock actually rose by about 4.3 percent. If it was solely based on supply and demand gas would maintain about 2.20 a gallon.
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