Can the Oil Market 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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