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Oil traders place spring bets on "widowmaker"

Reuters -- Some of the boldest speculative oil traders at banks and hedge funds are betting on a return of gasoline's strength ahead of peak summer demand, bringing an early shift to summer from winter to the oil market.

Many traders use a popular spread play between gasoline and heating oil to try to make money from seasonal shifts in demand in the Northern Hemisphere.

But the spread is one of the most volatile and unpredictable in the oil market and is often called "the widowmaker" after the plight of those who have made the wrong bet.

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Submitted Mar 11, 2010 By: Mudsprings

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Blackice Champion Author Twin Cities Posts:3,191 Points:806,240 Joined:Oct 2003	Message Posted: Mar 12, 2010 12:46:19 AM Ignore Blackice Report Abuse Old article...but hope they sink.
Amtrgas Champion Author Oakland Posts:2,143 Points:785,365 Joined:Dec 2007	Message Posted: Mar 12, 2010 12:39:17 AM Ignore Amtrgas Report Abuse The problem with SPECULATORS, is the money they are risking is not their own. So if they make a bad buy, it is not their money. If they make a killing, then they share in the profits. Either way they win.
vulcan96 Champion Author Ohio Posts:17,937 Points:2,130,095 Joined:Aug 2004	Message Posted: Mar 12, 2010 12:37:35 AM Ignore vulcan96 Report Abuse i hope this one is the biggest widowmaker and all the manipulators choke !!!!!!!
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Mar 12, 2010 12:36:07 AM Ignore jay4 Report Abuse Speculators! Interfering with our RETURN TO NORMAL PRICES!
furiousfowl Champion Author Riverside Posts:11,965 Points:1,825,645 Joined:May 2005	Message Posted: Mar 12, 2010 12:34:47 AM Ignore furiousfowl Report Abuse NOTHING BUT GREEDY CHILDREN
monarch57 Veteran Author British Columbia Posts:269 Points:24,430 Joined:Nov 2008	Message Posted: Mar 12, 2010 12:24:56 AM Ignore monarch57 Report Abuse When are they going to get rid of the greedy speculators?
10k Champion Author North Carolina Posts:12,945 Points:1,278,300 Joined:May 2006	Message Posted: Mar 12, 2010 12:22:45 AM Ignore 10k Report Abuse i hope there are so many widows the funeral homes can't handle them..
TBONE3 Champion Author Pennsylvania Posts:3,885 Points:1,004,445 Joined:Mar 2005	Message Posted: Mar 12, 2010 12:22:30 AM Ignore TBONE3 Report Abuse Here's to them ALL becoming widowers or widows.
rxman1 Champion Author Toledo Posts:4,352 Points:908,455 Joined:Nov 2007	Message Posted: Mar 12, 2010 12:20:49 AM Ignore rxman1 Report Abuse I can only hope that they made the wrong bet. Keep demand down, let them lose.
tedjm1 Champion Author New York Posts:1,527 Points:167,030 Joined:Dec 2006	Message Posted: Mar 12, 2010 12:16:47 AM Ignore tedjm1 Report Abuse When are the speculators going to stop betting? I know that it is the way to make big money for clients, but it can also result in a bad situation.
altonb1 Champion Author Pennsylvania Posts:5,032 Points:688,300 Joined:Jul 2005	Message Posted: Mar 12, 2010 12:13:05 AM Ignore altonb1 Report Abuse The problem with this is that everytime there is a switch in blends, refineries go offline to make the change and causes the prices to rise. If we can't use 1 blend all year long, we should at least standardize across the country so that the summer blend in California is the same as in Michigan which is the same as in Texas, etc.
Bus561 Champion Author Lexington Posts:11,487 Points:2,242,625 Joined:May 2004	Message Posted: Mar 12, 2010 12:09:30 AM Ignore Bus561 Report Abuse I hope these traders and speculators lose their butts. Stinking, dirty legal thieves.
BKool Champion Author Michigan Posts:3,013 Points:1,437,970 Joined:Aug 2005	Message Posted: Mar 12, 2010 12:09:21 AM Ignore BKool Report Abuse yeah...
Gary65 Champion Author Toronto Posts:1,497 Points:465,850 Joined:Jan 2009	Message Posted: Mar 12, 2010 12:08:48 AM Ignore Gary65 Report Abuse Really they need tougher regulations to stop these speculators from their lazy dishonest living.
Buddy2264 Champion Author Tampa Posts:6,616 Points:1,383,040 Joined:Oct 2005	Message Posted: Mar 12, 2010 12:08:32 AM Ignore Buddy2264 Report Abuse If it reaches a peak this time I am cashing out. Conservation keeps your money in your pocket.
Joeski1 Champion Author New Jersey Posts:3,826 Points:763,480 Joined:Dec 2004	Message Posted: Mar 12, 2010 12:08:21 AM Ignore Joeski1 Report Abuse oil is definitely going up..... don't kid yourselves.... got hybrid?
Bigwaynef Champion Author South Carolina Posts:3,952 Points:1,121,995 Joined:Dec 2006	Message Posted: Mar 12, 2010 12:07:10 AM Ignore Bigwaynef Report Abuse I'll take my chances with Powerball...
PetroScopper Champion Author Houston Posts:2,198 Points:600,425 Joined:Aug 2008	Message Posted: Mar 12, 2010 12:06:42 AM Ignore PetroScopper Report Abuse This stuff is all a game to them! This has been going on for a long time - someone needs to do something about this practice.
Blue_Cruzer Champion Author Lexington Posts:3,003 Points:772,410 Joined:Mar 2007	Message Posted: Mar 12, 2010 12:06:41 AM Ignore Blue_Cruzer Report Abuse Be ready for higher prices this summer.
rippinusoff Champion Author Lexington Posts:2,474 Points:513,490 Joined:May 2007	Message Posted: Mar 12, 2010 12:05:28 AM Ignore rippinusoff Report Abuse I bet they are idiots!!!
CobraLeader Champion Author New Jersey Posts:248,184 Points:1,135,700 Joined:Apr 2007	Message Posted: Mar 12, 2010 12:04:44 AM Ignore CobraLeader Report Abuse ... I bet they RAPE the consuming public but good! ...
pinkelefant Champion Author Los Angeles Posts:14,645 Points:1,751,985 Joined:Aug 2003	Message Posted: Mar 12, 2010 12:03:11 AM Ignore pinkelefant Report Abuse legalized crime?
fordmexico Champion Author Michigan Posts:2,161 Points:181,425 Joined:Oct 2009	Message Posted: Mar 11, 2010 11:57:43 PM Ignore fordmexico Report Abuse Speculators are enemies of the state and should be afforded the same treatment as spies and saboteurs. An all expenses paid 30 year vacation to Gitmo or maybe a times share trade to a gulag is appropriate.
mrbee All-Star Author Little Rock Posts:568 Points:1,526,835 Joined:Oct 2005	Message Posted: Mar 11, 2010 11:52:05 PM Ignore mrbee Report Abuse OK!