haughtney1,
I could not agree with you more.
Mrs ST is or has been a futures, options/derivatives and Forex trader and knows how a lot the 'market makers' work their stuff. Whilst not understanding a lot if it, I find some of the goss is fascinating and equally frightening. The conflict of interest for these (mostly young male who only have known bull market times) traders and speculators, is that they personaly make more when they can push the price of a commodity to a higher 'resistance level'.
They did this last week by raising 'fears' about the North Korea missile tests - anyone care to guess how Pyongyang has an effect on oil supply? Well - it doesnt. But it's fear - and that is the real 'commodity' of the GW Bush post 9/11 era.
So when the Israeli's started dropping bombs on Beirut, well the traders saw opportunity again. This is the unreal reality of global market speculation. It is a crock.
If bird flu breaks out I am sure that will add a dollar or two as well. It's stupid, and it is a bubble market.
Supply is one thing - exploitation, profiteering and gouging are another - and they destabilise the entire world market, ultimately to the downfall of these wunderkind traders.