Oil Speculators Finally Face Their Day of Reckoning

For over a year now, speculators have brilliantly managed the price of oil to ever-higher levels. However, even the most skilled manipulators can't buck the underlying fundamentals indefinitely. The time is coming for them to begin unwinding their positions. We'll discuss the implications.

In March 2005, Goldman Sachs warned that the oil market was in the early stages of a “super spike,” and predicted that oil prices could soon rise to $105 a barrel.¹ At the time, the price of a barrel of oil sto.....