Broker allegedly caused $2 spike in oil prices
Story by: Sharon Flaherty, FTAdviser
A rogue oil broker allegedly caused a large spike in the Brent Crude oil market on Tuesday (30 June), triggering up to £6m of losses.
Private investments in gold bullion have increased by 43 per cent since the start of the year, as investors look to hedge against further economic crisis and inflation.
T1ps Investment Management is on the verge of launching a new gold fund following the success of its £5.9m smaller companies fund.
Oil prices rose this morning (18 June) reaching $71 a barrel for NYMEX crude future, after US president Barack Obama revealed plans aimed at preventing speculators from pushing up the price of oil and other commodities to unrealistic levels.
Investors who have stayed the course and kept their investments in oil have been rewarded, as it recently hit new highs for the year of more than $65 a barrel, according to Barclays Stockbrokers.
Gold and mining beat 16 global fund sectors monitored by ratings agency S&P Fund Services.
Gold and mining was one of only two global sectors to deliver a positive return during the first quarter of the year.
The significant increase in the demand for commodity assets since the start of the year has been driven by investors' early efforts to hedge against inflation, according to Threadneedle.
Crude oil prices rose above the $70 a barrel mark earlier today, to hit a new seven-month high.
The significant increase in the demand for commodity assets since the start of the year has been driven by investors' early efforts to hedge against inflation, according to Threadneedle.
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