Why are gas prices so high? These obscure traders are partly to blame

‘Nobody with power is looking at what they’re doing,’ but they’re helping to drive searing gas prices despite increased oil production

Gasoline prices at the pump have surged, reaching a US national average of $4.34 on 21 March, and remain more than 70% greater than at this time last year. At the same time, global supplies of oil have actually increased, including from Russia, even amid the war in Ukraine.

So if high prices are not being driven by …

artificial intelligence (ai) commodities energy industry futures oil oil and gas companies shell