Energy

Can the Oil Market Be Manipulated?

Energy Investing

Oil and Energy Investor analyses whether oil market can be manipulated.

Oil and Energy Investor analyses whether oil market can be manipulated.

The market news is quoted as saying:

The companies lost on the sale of the crude oil itself (the “wet” barrels of actual commodity) they had stockpiled. But, according to the filing, they gained more than $50 million in profits from the derivatives (the related “paper” barrels). The alleged activity occurred during the early part of a run up to historically high oil prices of $147.27 a barrel (by the second week of July in 2008). The companies charged, however, were trading, and making profits, when the price for crude was well under $100.

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