Speculators Now Driving Down Oil Futures Prices

In anticipation of rising future supply and/or declining future demand, oil speculators are now driving oil prices down for December 2016 crude oil futures contracts. In just the last three weeks, futures prices for delivery in 2016 have fallen by more than 5%, from $94.75 per barrel in early April to below $90 in recent trading.

Are these the same destabilizing, market-manipulating oil speculators who are supposedly to blame for oil prices rising in the short term? Or are these the “good” speculators whose trading leads to falling prices, as opposed to the “bad” speculators whose trading raises prices?

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