Speculators May be Playing Lesser Role in Oil Price Hikes

They’re a tempting target for your rage as you stand at the gas pump, filling up at an infuriating $2.27 a gallon.

And multimillionaire hedge fund managers and oil speculators are certainly active playing the oil market. Through futures contracts they can buy up the right to all the oil they want without actually having to use it or take delivery.

They can just sell it later at a higher price.

But speculators seem to be playing less and less of a role in driving up oil prices these days, market data shows.

Boston Herald