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(FT) Crude at $175? Oil traders stress test the future
Oil at $175 a barrel; copper at $12,000 a tonne and corn at $10 a bushel. As commodity prices rally, the world’s largest trading houses have been busy ”˜stress testing’ to be sure their finances can withstand a “super spike”.
The levels are not a forecast ”“ indeed, executives tell me they do not expect such hefty prices ”“ but do signal a “worse case scenario” for which oil, metals and food commodities traders need to prepare.
I sincerely hope not–read it all.