Who is making money with the recent rally on Crude?
Speculators and the oil-exporting countries……..Oil prices rose above $130 a barrel for the first time Wednesday. It becomes obvious that there are a lot of people making fortunes with the current prices of Oil, deteriorating at the same time the life of many others, consequently the economical environment. The systematic increase in Crude Oil, has been recently fuelled by some investments houses that are using the recent escalate of prices to satisfy its own interests, this is real and obvious. I don't like to mention here names of who are behind this game, but the tips are on the table if you check the latest upgrades on Oil over the past week, you will find all of them. They are the speculators that are making fortunes, forcing the crude price to levels they want. Oil prices also rose because the dollar weakened against the Euro, prompting investors to buy commodities as a hedge against the currency's decline. Saudi Arabia has agreed to increase production in 300.000 a day to help lower prices, but in fact this news had no impact. All across the board oil demand has declined at an average month rate of 2% to 3% worldwide, new energy sources are now being developed, the car industry itself has shifted towards a cleaner energy like hybrid cars, sales alone in the US has increased over 50%, there is now a waiting list of more than one month for the Toyota Pirus, in the US alone.......but nothing stops the speculation of the decade.....I lost the train on crude Oil, because prices are currently well manipulated..........Labels: Crude Oil
