Speculative traders 'manipulating' gas and oil prices: analyst

Atlanta (Platts)--7Jun2005

With gas and crude oil stocks running stable to higher compared with 2004
levels, the influence of speculative traders has put a "fear premium" on
commodity prices in spite of weak fundamentals, according to Paul Corby, a
senior vice president with consulting firm Planalytics. 

In opening comments to attendees of Interchange Energy's LDC Forum in Atlanta
Tuesday, Corby said by the technical definition of the term, these players are
in fact manipulating commodity markets to their advantage, although their
activity is not necessarily illegal. "What they're doing is their job," said
Corby, noting that speculative traders are paid to make a profit. "This is the
first time we had funds coming into a commodity that impacts so many other
people," he added.

This story was originally published in Platts Natural Gas Alert
http://naturalgasalert.platts.com

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