Dominant Force: Speculation and trading in the futures market are a primary driver of overall oil prices.

Futures markets significantly influence oil prices by acting as a mechanism for price discovery, risk management, and speculative investment. While long-term prices are primarily driven by physical supply and demand, futures markets frequently drive short-term price movements and can sometimes disconnect from physical reality.

Source: ScienceDirect

How to deal with oil shocks and the inflation problem | WONK with Amanda Lang

Public Policy Forum and Amanda Lang

Most Canadians are still adjusting to the inflation that has settled across our economy from the last big geopolitical disruptions. Now a new one threatens to send prices higher again. Jim Stanford is the director of the Centre for Future Work and one of Canada’s most prominent economists. He talks to host Amanda Lang about the far-reaching impact of energy prices, social capital and leaning into Canada’s strengths.