The Simple Economics of Commodity Price Speculation
The price of crude oil never exceeded $40 per barrel until mid-2004. By July 2008 it peaked at $145 and by late 2008 it fell to $30 before increasing to $110 in 2011. Are speculators partly to blame for these price changes? Using a simple model of supply and demand in the cash and storage markets, w...
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
American Economic Association,
2017-05-11T19:05:57Z.
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| Subjects: | |
| Online Access: | Get fulltext |