Oil Price Drivers: Role of Speculation in the Oil Spike

• The doubling of the oil price from early March 2009 to mid-June has led to suggestions that as in 2008, financial speculation could be exacerbating market moves including the significant volatility in the crude oil market. News that a London-based rogue trader contributed to a price spike in 2009 may return attention to the role of non-commercial traders in price discovery. The recent rally in oil prices like that of many commodities has been fueled in part by the increase in liquidity, search for dollar hedges and expectations of an improved macroeconomic environment.
• Siehe dazu auch Artikel in der heutigen New York Times