Irish bailout forces oil hedging strategies revision

Hedge funds - hedging their energy bets

Experts say that the Irish banking bailout, which has strengthened the euro and British pound against the US dollar, has as a result made energy look relatively cheap for investors. This attractiveness is pushing up prices and will lead participants to revise their current hedging strategies.

"The news of such a large bailout for Ireland will naturally have an impact on market sentiment," says Andrew Moorfield, head of oil and gas at Lloyds Banking Group. "Following news of the bailout, oil

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