Speculation is good for trading says Nymex

Oil and natural gas volatility has nothing to do with market gambling

The New York Mercantile Exchange has rounded on critics of hedge funds with a study that concludes that the industry has improved trading efficiency in energy markets.

The study said: "It appears hedge funds have been unfairly maligned by certain quarters seeking simple answers to the problem of substantial price volatility in energy markets – simple answers that are not supported by the available evidence.

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