Knowledge@wharton

Allegations that traders manipulated oil prices in 2008 are reinforcing the buzz -- at the gas pump and elsewhere -- that speculators are driving up the price of oil triggering wild price spikes and nail-biting volatility. Fingering speculators is a popular pastime these days but experts at Wharton and elsewhere say the blame is often misplaced. Although speculation can affect prices most of the recent price swings in oil and other commodities are happening for fundamental economic reasons. See acast.com/privacy for privacy and opt-out information.