QE3: The next big driver for oil prices?
Quantitative easing has been touted as the next big driver of oil prices. However, analysing and predicting the market behaviour it actually generates is difficult. Jay Maroo talks to experts about what they expect from QE and how this might impact risk management strategies
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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