BLOG: Oil prices: when the facts don’t matter

12 October 2016 05:33 Source:ICIS News

LONDON (ICIS)--Click here to see the latest blog post on Asian Chemical Connections. The facts seem to have been increasingly less important into today’s oil markets because of the role of financial speculators. In the West Texas Intermediate (WTI) futures contract alone, for instance, futures trading has risen to all-time high so far this year. Right now, the diminishing role that facts are playing in the market has led to a strong rally in pricing despite strong evidence of persistent oversupply.

Editor’s note: This blog post is an opinion piece. The views expressed are those of the author, and do not necessarily represent those of ICIS.

By Staff Reporter