Fascinating chart above via David Wilson of Bloomberg.
It very much suggests that while Speculators may not have been the prime mover on the 2008 Oil peak, the specs seem to be a very large portion of the current push.
By comparing the net number of contracts owned by non-commercial oil traders (Source: Commodity Futures Trading Commission).
Crude 5.8% the first two days of this week, suggested that speculative demand for oil may be declining.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.