"A Long Term Trend Away From Oil Has Begun"

Oil prices continue to fall, now below $108. Here’s an optimistic outlook on where they’re heading:

A long term trend away from oil has begun that will send oil speculators running for the hills.  The United States Commodity Futures Trading Commission released a report showing that 4 speculators held as much as 81% of oil futures contracts in July. There are allegations against  Amsterdam-based hedge fund Optiver Holdings that the firm tried to “bully the market” on 19 separate instances by buying large volumes of futures contracts to influence prices. The alleged scheme resulted in a $1 million profit to the defendants</WBR _extended=”true”>. As this manipulation gets cleaned up I would advise against listening to those in the media with conflicts of interest on oil.  The oil bubble will burst in a major way.  Buyer beware.

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