THE ascending oil price has prompted three big banks - Barclays, Morgan Stanley and Deutsche Bank - to flag the danger of a financial bubble.
According to The Telegraph, they have all issued reports advising investors to tread carefully as energy and base metals fall prey to unstable speculative flows in the derivatives markets. It said oil had jumped 40% since January even as the United States, China and the world economy as a whole had been sputtering, falling far short of expectations.
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