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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:806,490 Joined:Oct 2003	Message Posted: Mar 11, 2010 11:46:19 PM Ignore Blackice Report Abuse Old article...but hope they sink.
Amtrgas Champion Author Oakland Posts:2,148 Points:786,340 Joined:Dec 2007	Message Posted: Mar 11, 2010 11:39:17 PM 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 11, 2010 11:37:35 PM 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 11, 2010 11:36:07 PM Ignore jay4 Report Abuse Speculators! Interfering with our RETURN TO NORMAL PRICES!
furiousfowl Champion Author Riverside Posts:11,970 Points:1,826,620 Joined:May 2005	Message Posted: Mar 11, 2010 11:34:47 PM Ignore furiousfowl Report Abuse NOTHING BUT GREEDY CHILDREN
monarch57 Veteran Author British Columbia Posts:269 Points:24,430 Joined:Nov 2008	Message Posted: Mar 11, 2010 11:24:56 PM Ignore monarch57 Report Abuse When are they going to get rid of the greedy speculators?
10k Champion Author North Carolina Posts:12,951 Points:1,279,275 Joined:May 2006	Message Posted: Mar 11, 2010 11:22:45 PM Ignore 10k Report Abuse i hope there are so many widows the funeral homes can't handle them..
TBONE3 Champion Author Pennsylvania Posts:3,895 Points:1,005,645 Joined:Mar 2005	Message Posted: Mar 11, 2010 11:22:30 PM Ignore TBONE3 Report Abuse Here's to them ALL becoming widowers or widows.
rxman1 Champion Author Toledo Posts:4,357 Points:909,430 Joined:Nov 2007	Message Posted: Mar 11, 2010 11:20:49 PM 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:1,532 Points:167,255 Joined:Dec 2006	Message Posted: Mar 11, 2010 11:16:47 PM 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:5,037 Points:689,275 Joined:Jul 2005	Message Posted: Mar 11, 2010 11:13:05 PM 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:11,492 Points:2,243,600 Joined:May 2004	Message Posted: Mar 11, 2010 11:09:30 PM Ignore Bus561 Report Abuse I hope these traders and speculators lose their butts. Stinking, dirty legal thieves.
BKool Champion Author Michigan Posts:3,020 Points:1,438,945 Joined:Aug 2005	Message Posted: Mar 11, 2010 11:09:21 PM Ignore BKool Report Abuse yeah...
Gary65 Champion Author Toronto Posts:1,497 Points:466,725 Joined:Jan 2009	Message Posted: Mar 11, 2010 11:08:48 PM Ignore Gary65 Report Abuse Really they need tougher regulations to stop these speculators from their lazy dishonest living.
Buddy2264 Champion Author Tampa Posts:6,621 Points:1,384,015 Joined:Oct 2005	Message Posted: Mar 11, 2010 11:08:32 PM 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:3,831 Points:764,455 Joined:Dec 2004	Message Posted: Mar 11, 2010 11:08:21 PM Ignore Joeski1 Report Abuse oil is definitely going up..... don't kid yourselves.... got hybrid?
Bigwaynef Champion Author South Carolina Posts:3,957 Points:1,122,970 Joined:Dec 2006	Message Posted: Mar 11, 2010 11:07:10 PM Ignore Bigwaynef Report Abuse I'll take my chances with Powerball...
PetroScopper Champion Author Houston Posts:2,201 Points:601,360 Joined:Aug 2008	Message Posted: Mar 11, 2010 11:06:42 PM 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:3,008 Points:773,385 Joined:Mar 2007	Message Posted: Mar 11, 2010 11:06:41 PM Ignore Blue_Cruzer Report Abuse Be ready for higher prices this summer.
rippinusoff Champion Author Lexington Posts:2,479 Points:514,465 Joined:May 2007	Message Posted: Mar 11, 2010 11:05:28 PM Ignore rippinusoff Report Abuse I bet they are idiots!!!
CobraLeader Champion Author New Jersey Posts:248,251 Points:1,136,675 Joined:Apr 2007	Message Posted: Mar 11, 2010 11:04:44 PM Ignore CobraLeader Report Abuse ... I bet they RAPE the consuming public but good! ...
pinkelefant Champion Author Los Angeles Posts:14,650 Points:1,752,960 Joined:Aug 2003	Message Posted: Mar 11, 2010 11:03:11 PM Ignore pinkelefant Report Abuse legalized crime?
fordmexico Champion Author Michigan Posts:2,161 Points:181,425 Joined:Oct 2009	Message Posted: Mar 11, 2010 10:57:43 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:1,527,660 Joined:Oct 2005	Message Posted: Mar 11, 2010 10:52:05 PM Ignore mrbee Report Abuse OK!