### Replication data for: The Simple Economics of Commodity Price Speculation

Christopher R. Knittel & Robert S. Pindyck
The price of crude oil never exceeded $40 per barrel until mid-2004. By July 2008 it peaked at$145 and by late 2008 it fell to $30 before increasing to$110 in 2011. Are speculators partly to blame for these price changes? Using a simple model of supply and demand in the cash and storage markets, we determine whether speculation is consistent with data on production, inventory changes, and convenience yields. We focus on crude...
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