Is it a symptom of things to come that Bloomberg.com can report that crude oil prices fell after today’s terrorist attacks in London because oil is no longer just a commodity, but also an investment?
“The plunge shows that energy has become an investment and not just a commodity,” said John Kilduff, vice president of risk management at Fimat USA in New York. “Investors panicked on word of the attack and fled to quality, to gold, bonds and other safer harbors. Prices are rebounding because there is a potential Category 3 storm in the Gulf.” [More…]
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