I agree with you on the traders being market manipulators for their gain. Funny thing is some of those firms are now being forced to take delivery of oil contracts they paid close to $90 for. They are scrambling to find ships to store the oil in until prices come back up.

Storage issues are going to be what runs prices down to the $20's. Most forecasts have oil at $35 in June. Even with all the idled rigs, capacity is still increasing in the U.S. as companies are pumping as fast as they can to try and get it at $45 to pay debt and avoid bankruptcy. The worst is really yet to come in the U.S. oil industry.