Position Limits Regulation - White Paper - EDHEC-Risk Institute: Has There Been Excessive Speculation in the US Oil Futures Markets?

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November 2009

From the white paper:

"This report makes it possible to examine whether, over the last three years, speculative position-taking in the exchange-traded oil derivatives markets has been excessive relative to commercial hedging needs. We use a traditional metric for evaluating speculative position-taking and find that this position-taking does not appear to be excessive over the past three years when compared to the scale of commercial hedging at the time."


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