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cbsnews.com - 1/12/2009

Did Speculation Fuel Oil Price Swings?, 60 Minutes: Speculation Affected Oil Price Swings More ...

— cbsnews.com — (CBS) About the only economic break most Americans have gotten in the last six months has been the drastic drop in the price of oil, which has fallen even more precipitously than it rose. In a year's time, a commodity that was theoretically priced ... (more) Did Speculation Fuel Oil Price Swings?, 60 Minutes: ...

Commodities

Oil Prices

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ritholtz.com - 1/7/2009

Here Comes the Commodity Index Rebalancing

— ritholtz.com — The major commodities indices are being rebalanced, and I am forced once again to question their timing. Recall the last major rebalance: At the time, I had been challenged by Larry Kudlow to find a smoking gun for the sudden 2006 collapse of Oil ... (more) Here Comes the Commodity Index Rebalancing

Stocks

Oil

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3

ft.com - 1/13/2009

FT.com / MARKETS / Commodities - Oil sinks below $37 as commodities retreat

— ft.com — Oil prices continued to retreat, dropping below the $37 a barrel level, while base metals fell and gold eased as commodity markets staged a broad based retreat on Tuesday as more weak economic data pointed to a deepening global economic downturn. ... (more) FT.com / MARKETS / Commodities - Oil sinks below $37 as ...

Commodities

Oil

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A sloppy 60 Minutes segment on oil prices
The Mess That Greenspan Made — ... At The Big Picture, a dismantling of the report has already been completed by the ever-alert Barry Ritholtz, in whose estimation, about 90 percent of the story remained untold. ...

What 60 Minutes Missed on Oil Speculation
IEHI Feed: The Hedge Fund Implode-o-Meter — Search Enter your search terms Web HF Submit search form 2009-01-12 But merely claiming that the run up in Oil prices was due to unprecedented speculation misses the big picture of what actually occurred. And, it reflects a lack of understanding of how markets work, and the psychology of booms, bubbles and busts" go to full article | ...

Monday links: dividend destruction
Abnormal Returns — ...   (Big Picture) Pimco launches the new Pimco Global Advantage Bond Index, index fund to follow.  (IndexUniverse.com) Oil traders are scrambling to hire supertankers to store oil.  (Times Online via Keith Shepard) 60 Minutes missed the market on its “oil speculation” story.  (Crossing Wall Street, Big Picture) Some signs of hope from the money markets. ...

Oil Prices and Stock Prices
A Dash of Insight — ... about pulling together links on a specific topic, providing the intelligent reader an opportunity to see a range of thought on the issue.  The articles do not always appear on the same day, the general format for the gatekeepers. Let us give it a try. Our own explanation about the over-emphasis on the front month. Eddy Elfenbein's excellent take on what 60 minutes should have asked, but did not.  You can also see the complete video. Barry Ritholtz analyzing what 60 minutes missed. Todd Sullivan, looking at how actual ...

links for 2009-01-13
Economist's View — ... - Dennis Lockhart Belief, Whether True or False, Can Have Beneficial Effects - Gavin Kennedy A new monetary policy for the 21st century - Roger Farmer US workers need Social Security and Medicare now more than ever - Dean Baker When local revenue falls, traffic citations go up - EurekAlert Exogenous policy, endogenous policy......and improving policy - Nick Rowe What 60 Minutes Missed on Oil Speculation - The Big Picture Identify the problem - ...

Commodity Bubble Bursts: Blame the Speculators, or Falling Demand?
Yahoo! Finance: Tech Ticker — ... focused on the role of speculators in oil's spike last year. The piece probably received a warm welcome from viewers eager to blame Wall Street for all the world's evils. Wall Street certainly has its faults, but the 60 Minutes piece on oil "reflects a lack of understanding of how markets work, and the psychology of booms, bubbles and busts," as Barry Ritholtz writes. More important is the fact the price of oil, and other commodities, have tumbled and demand does not appear to be coming back as the global economy sinks deeper into recession. That spells bad news for stock ...

Why You Can’t Blame Speculators For Oil ETF Volatility
Daily Markets — ... . The source of this volatility has been a topic of much discussion. But how much can we blame speculators? Task seems to feel the answer is “not much,” because we can’t blame Wall Street for everything that’s wrong in the world right now. It’s not without flaws, but there’s so much more at play, according to Barry Ritholtz at the Big Picture . More Grim News. Other news about commodity sectors should be emerging soon, as well. The S&P 500’s basic materials sector is expected to show its weakest fourth-quarter earnings of all, down 69%, because of the commodity bubble burst, ...

A bear market in crude oil
Finance Trends Matter — ... Oil's plunge to the downside was surprisingly quick and severe (as it was for many assets in 2008), but we may see demand for crude oil pick up if China and other developing nations start to come out of recession ahead of US and other developed nations. ...