Seth clearly doesn't watch NYMEX volume or open interest: try subscribing to a real time news feed. Since the hurricanes struck, funds have mostly been out of CL: see the low volumes given the open interest. Also, Emini often does 1/3 CL's volume in the first hour: since Emini volume is about 4X the OI, daytraders have had a greatly disproportionate amount of influence on CL price over the last two months. Before making another facile reply, consider also that the emini trades only the front month: since CL front month volume is less than half total CL volume, clearly emini volume is a huge component in front month pricing; also, the CL front month makes prices for the entire CL complex; this, along with the recent low hegde fund participation, makes the case that daytraders have had a hugely disproportionate influence on CL pricing.