06/20/2009 05:12 am ET Updated May 25, 2011

McClatchy: Are Wall Street Speculators Driving Up Gas Prices?

Oil and gasoline prices are rising fast as Memorial Day weekend approaches, but not because supplies are tight or demand is high.

U.S. crude-oil inventories are at their highest levels in almost two decades, and demand has fallen to a 10-year low, but crude oil prices have climbed more than 70 percent since mid-January to a six-month high of $62.04 on Wednesday.

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