BP says oil may tumble if financial factors removed

SEOUL (Reuters) – Oil could face a “steep” fall if financial factors are removed from the current market, which gained around 40 percent this year, the chief economist at BP (BP.L: Quote, Profile, Research) said on Thursday.

[…]“If the financial investors move out of the market, then there could be a rapid fall, a steep fall in prices,” Christof Ruehl told Reuters on the sidelines of the London-based company’s 2008 Statistical Review of World Energy in Seoul. He declined to give an estimate on the fall.

Reuters UK