Oil Prices tumble - $105/barrel & dropping
#51
"The predominant problem here is that traders own too much oil. They bought too much in anticipation of market tightness and now they have to adjust their positions," said Tim Evans of Citi Futures Perspective....
...Data from the Commodity Futures Trading Commission that showed large hedge funds and other speculators raised their net long U.S. crude futures and options positions slightly in the week to June 14.
...Data from the Commodity Futures Trading Commission that showed large hedge funds and other speculators raised their net long U.S. crude futures and options positions slightly in the week to June 14.
Hoist with his own petard."
("Hamlet" III.iv.207).
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unemployedagain
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02-07-2009 04:37 PM