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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (142258)	8/21/2008 1:51:49 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Report: One trader held 11 pct of Nymex contracts Thursday August 21, 12:15 pm ET Report: Speculators may have played larger role in oil market swings that once thought NEW YORK (AP) -- A single energy conglomerate held 11 percent of all contracts on the New York Mercantile Exchange at one point last month, according to a published report Thursday, suggesting that speculators may have played a larger part in volatile oil markets than once thought. ADVERTISEMENT The Commodity Futures Trading Commission made an unusual request last month for data from Vitol Group, a private Swiss energy company that regulators thought was helping industrial firms get the oil they needed, according to The Washington Post. The commission discovered, however, that the Vitol would be better described as a speculator, trading oil contracts to turn profits rather than assisting companies that actually needed oil delivered for their operations.