Crude oil has risen amid questions over access to Iraq's oil supply during the Sunni Muslim insurgency.
Not actual supply. Not actual demand: questions.
For anyone who doesn't see the definition of "speculation" in action here -- this is speculation in action.
There's a relative handful of high-rollers placing bets on the direction of prices, then hedging their own bets. They win either way.
We lose, either way.
This is not what the "free market" is supposed to be.