RE:RE:Storm developing in the Caribbean basinI don't really have any sympathy for traders getting burned by margin calls on short positions which is what this is . Covering those open positions will drive prices higher as people realize there is neither the barrels , the boe's or the money to cover all those phantom barrels sold . If the paper market can't function then the physical market will be driving the bus .
It starts making sense why the media continues to push the surplus supply and demand destruction fairytale . These people make a fortune betting against everything and sometimes they loose spectacularly , the same thing happened in London nickel trading several months back . Its traders like these guys that screwed the system so governments shouldn't be going after the oil company profits like they were ill gotten gains .