VOL. XLVII
No 20
17-May-2004
OIL PRICES
Hedge Fund Dominance Of NYMEX Oil Futures Behind High Prices, Says Vitols Taylor
The increasing dominance of financial funds in the NYMEX WTI crude oil futures market has been a major factor behind the rise of oil prices to13-year highs above $40/B, according to Vitol President Ian Taylor. Speaking at the Conference Connection-organized Middle East Petroleum & Gas Conference in Bahrain on 10 May, Mr Taylor said that oil prices had risen to long-term...
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