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365 comments on DrumBeat: May 23, 2008

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shargash on May 23, 2008 - 9:44am Permalink | Subthread | Parent | Comments top

Russian production is down. OPEC shipments are down. But the only reason oil prices are going up is speculation. Yeah, right.

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umass82 on May 23, 2008 - 10:13am Permalink | Subthread | Parent | Comments top

And the drop in the dollar. And because we are not drilling everywhere, and because the Petrosarus' are not doing their jobs.

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GLT149 on May 23, 2008 - 11:43am Permalink | Subthread | Parent | Comments top

2 arguments against the speculation position I heard on CNBC: the fact that trading volume is high and the fact that we're in a contango situation.

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Strange Attractor on May 23, 2008 - 5:13pm Permalink | Subthread | Parent | Comments top

Can anyone please explain how high trading volume and contango both undermine the speculation argument?

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