Cologni, Alessandro; Scarpa, Elisa; Sitzia, Francesco … - 2015
focused on the definition of speculation while others examined the relationship between oil prices and the behavior of trading … actors. In this paper, we formulate a new theory able to describe "hedging needs" as well as the role of speculators in the … shale oil production, the importance of speculation in ensuring an equilibrium in the US crude oil market has consequently …