Speculators Are to Blame for Sky-High Crude Oil Prices
Read the full article: http://www.contrarianprofits.com/articles/oil-prices-rise-ag...
Are market fundamentals to blame for sky-high crude oil prices? Of course not, says Andrew Gordon. It’s the tens of billions of dollars pouring into the oil futures markets are. Sure, demand is high – but the high-end costs of producing oil are $70 max, so a barrel of the black goo should cost about $110.
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