QE3: The next big driver for oil prices?
The impact of easing
The increasing financialisation of commodity markets is a key trend for risk managers to monitor, but one that is very tricky to assess. The latest example of this is the impact of US quantitative easing (QE) on oil prices.
Last month’s announcement by US Federal Reserve chairman Ben Bernanke of a third round of QE – the US central bank’s emergency asset-buying programme – initially led to oil prices rising. On the day of the announcement, Brent crude futures trading on ICE settled at $116.90 a
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