Oil producers and distributors, airlines, power companies etc are major players in the oil futures markets. Much more so than, say, the gold markets where almos

Oil producers and distributors, airlines, power companies etc are major players in the oil futures markets. Much more so than, say, the gold markets where almost everyone's purpose is speculation, but less than agricultural futures like wheat and corn. It's still probably <10% by volume, but maybe your .0000001% was hyperbole.