Nymex Trader Says Oil Prices Are ‘Nuts,’ Blames Goldman: Books
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Dan Dicker could be forgiven if he hooted in vindication as crude plunged 15 percent in the first week of May. He concluded long ago that petroleum prices have become “just nuts,” as he says in “Oil’s Endless Bid.”
Oil markets are defying the normal laws of supply and demand, he argues in this timely book, and a large share of the blame belongs to Goldman Sachs Group Inc., Morgan Stanley and other banks. A longtime floor trader, he brings valuable insights to bear on a contentious subject that affects us all.