I keep mentioning that lot of oil price is being driven more by Speculation than fundamentals & that heart of speculations is driven by Mutual Fund & Wall Street trading folks treating commodities volatilities like stock differentials & seeking to manipulate prices.
Here is news article on CFTC catching Morgan Stanley & UBS doing after market excessive speculation and fining them. A fine too small in my opinion to get attention on rest of Funds also doing this & putting Oil industry at risk & collapsing profits to non-sustainable level (despite market hype on “gross earnings”).
Regards
