UNBELIEVABLE!!! The 70's Oil crisis didn't teach a thing!.. Instead of making the viability of alternative energies a priority they go on a witch hunt... "If" anything comes of it OPEC will simply cut production. Some of these countries have benefited so much they could produce a lot less and still do fine. JUST GET OFF YOUR DRUG HABIT and you won't have to deal with drug dealers anymore.
QUOTE "The CFTC has found evidence of this in the past. BP recently settled a suit that alleged the company tried to corner the propane market to inflate prices in 2003 and 2004. BP agreed to pay a $303 million settlement." QUOTE "This investigation is just a way for the government to divert attention away from the fact that it hasn't created a viable energy policy," said Mike Fitzpatrick, an analyst at the brokerage MF Global in New York. "Ultimately, fundamentals rule the markets..." Fundamentals my ass.
That is not proven but even if it is, the current CNN report quotes that "a single player acting alone would in all likelihood not have a huge influence on prices." My estimate: zero effect. Even this event or genuine news is not a real consideration if you understand that a market operates technically. Also the same report quotes an analyst assessment that "This investigation is just a way for the government to divert attention away from the fact that it hasn't created a viable energy policy. Ultimately, fundamentals rule the markets...this investigation is going to wind up producing nothing." When you trade a market open to market close, you will likely find yourself grounded in reality. Otherwise you are just feeding off the mushroom fertilizer that the SEC & CFTC provide because they need bad guys and market gremlins to justify their existence. Likewise the blame culture at large, inane conspiracy theories and the comfort which a broad spectrum of ignorance can give, are among the answers you are seeking.
Should not the focus be on the impact to the exchanges not the Oil market which will most likely feel only short term effects from this?