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Thursday, 18 August 2016

Saudi Arabia has oil traders hanging on every word - FT.com

Saudi Arabia has oil traders hanging on every word - FT.com:

"Central bankers have long understood that a few well-placed words can wield nearly as much power as pulling the actual levers of monetary policy. It is a lesson that Opec and Saudi Arabia have started to heed.
Just a few short sentences from Saudi Arabia’s energy minister Khalid al-Falih last week sent hedge funds scrambling to cover large bets against the oil price, subsequently propelling Brent crude 10 per cent higher and largely silencing fears the market was on the cusp of another rout."



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