It sure seems like Goldman has a big say in what goes on in the oil market. It strengthens my belief that the trading game is all about reputation. Goldman has a pretty big reputation and whatever they say really does have an effect on the markets. Some small potates trader who has done the same research says the same thing and nobody listens. Keeping an eye on the big players is always a good idea.
Oil is up because of the turmoil in Libya! Goldman just ran some complex research algorithms and the prediction was right! But really, I don't think its up to Goldman to artificially move prices. The sole purpose of OPEC is to keep oil as profitable as possible for the few regimes who govern the highest yielding oil fields. And OPEC does its job damn well.
Nothing like paying $4.16 a gallon, and that was regular.... I'm hearing a lot of people complaining about gas prices, I know of few people driving the GMC trucks, costing $100 every time they pull up to the pump...and that's averaging once a week!!!!