With Islamic State militants gaining ground in Iraq, Russia going head-to-head with the West over an uprising in Ukraine and chaos in Libya earlier this year it looked inevitable that a number of key oil producers were set for a squeeze. This presented one clear and compelling conclusion — oil prices were set to rise. The only problem was that it proved completely wrong. And so the money flowed — and flowed — into the trade. In fact bet by traders in the oil market that prices would rise reached their highest level in over a decade: Well it …read more
Source: Business Insider
