Financial trading worsened oil plunge – poll

Most respondents say paper trading had some impact, but disagree on how much

Oil barrels

Financial trading exacerbated the collapse in crude oil prices in late 2014 and early 2015, said 77% of respondents to a recent poll.

Since June 19 last year, when front-month Brent North Sea crude oil futures closed at $115.06 a barrel (/bbl) on Atlanta-based Ice, the benchmark contract has declined by almost 50%. On April 7, the front-month contract settled at $59.10/bbl.

The dramatic descent of crude oil has been pinned on a variety of factors, including an upsurge in US shale oil pr

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