Quote:
Originally posted by jluetjen
...1) Oil is a commodity....
2) Commodities are governed by supply and demand. ....
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It is traded like a commodity but as for supply relations? Nope - ain't buying it. I have spent to many years in too many refineries not to mention all the busines we are doing on rigs now.
This isn't soybeans or corn those prices flex according to weather and yields. The production and refining is tightly controlled.
It is a game dude, a big, fat emotional game that controls world economy. Pretty cool huh?