I think there is a bank run on the futures right now. I mean the price of oil, according to the futures, is $24 right now and dropping. It makes no sense? No demand for oil at $24? Its bullshit :)
So whats happening is that the futures market is breaking down. There is still demand for oil. But there is no demand for the "paper oil" so to speak. Confidence in the futures has been lost and before long there will be a new exchange/system to determine the price of oil.
So whats happening is that the futures market is breaking down. There is still demand for oil. But there is no demand for the "paper oil" so to speak. Confidence in the futures has been lost and before long there will be a new exchange/system to determine the price of oil.