The oil market has had a nice run no doubt...and there are many leveraged strategies that will have to unwind... One should not be surprised to see extreme downward movement...just as one has seen extreme upward movement...even to the degree that tankers are being contracted for storage.... http://archives.seattletimes.nwsour...tex/display?slug=oilconsumers14&date=20060914 http://feeds.bignewsnetwork.com/?sid=c12c470208ee6f79 The next 12 months may well grant oil price relief....
Shell oil exec mentions $100 billion hedge fund $ in oil... The downward pressure on contracts can certainly get rather excessive... http://news.morningstar.com/news/DJ/M09/D17/200609170352DOWJONESDJONLINE000215.html?Cat=Energy