Slick operators
How hedge funds, traders, and Big Oil are really driving gas prices.
Herdge Funds don't make huge wagers on the direction of oil - instead they make smaller bets on the spreads between different products in what traders call the energy complex. That might mean buying light, sweet crude while selling the heavy, sour stuff, or selling heating oil and loading up on gasoline ahead of the summer driving season. The key isn't how much one of these goes up or down - it's correctly anticipating the difference in price between the two.
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After asking permission to re-publish "Slick operators" from the authors I received a message from Time Inc. with guidelines for use of content and told that they'd prefer that we just link to the article.
Thanks Jo.
~CT editor