Why the Oil Market Needs More Instead of Less Speculators
Posted by: in Payday Loan News, tags: Airline Ticket, Consumers, Enormous Impact, Excerpt, Futures, Gas Station, New York Mercantile, New York Mercantile Exchange, News Sources, Nymex, Oil Consumption, Oil Market, Speculators, Stock Markets, World Economy, World Oil, York Mercantile ExchangeNews Sources wrote an interesting post today on
Here’s a quick excerpt
Less than 3% of the world’s oil consumption is traded in futures at the New York Mercantile Exchange (NYMEX). This is an alarming small percentage, considering the enormous impact these futures have on the world economy. Not only do they provide direction for stock markets, they also affect millions of consumers every day at the gas station, and influence the price of every airline ticket sold. Do we want a market with such a huge responsibility to the world economy be determined by only a few
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