| Article ID: | iaor20113566 |
| Volume: | 39 |
| Issue: | 4 |
| Start Page Number: | 2051 |
| End Page Number: | 2061 |
| Publication Date: | Apr 2011 |
| Journal: | Energy Policy |
| Authors: | Tokic Damir |
| Keywords: | economics, petroleum |
This article finds that commercial hedgers at least contributed to the 2008 oil bubble. Commercial hedgers were aggressively offsetting their short hedges leading to the oil bubble peak. Commercial hedgers, thus, unwillingly engaged in positive feedback trading. Institutional investors potentially destabilized the oil markets in 2008.