Every time somebody farts in the mideast "speculators" freak out!!
I'm not very informed at all on the subject, but what would happen to the oil prices if oil was taken off the "market"??
It would seem that the minoritys "panic" is dictating what the "majority" pays for the stuff.
That would never happen, gas and oil futures are how most large business hedge their fuel costs (from airlines to train companies). If you 'pulled' it off the market, you would be essentially fixing the price and most of the largest economic players in the US (Exxon, Cheveron, etc..) would be yelling "socialism" and unlike you or I, they have billions in cash to back up their yell.
(Ironically, the government is already engaged in a form of price fixing via the oil and gas subsidies that they provided to them in the past and you don't hear them complaining about that
).