Black Gold & Fool’s Gold: Speculation in the Oil Futures Market
This paper addresses the question of whether the oil price spike of 2003-2008 was a bubble. We document and discuss what is known about the level of speculation in the paper oil market. We then analyze the dynamics of the term structure of futures prices, both during the earlier period of 1985-2002...
| Main Author: | |
|---|---|
| Format: | Working Paper |
| Language: | en_US |
| Published: |
MIT Center for Energy and Environmental Policy Research
2010
|
| Online Access: | http://hdl.handle.net/1721.1/51711 |