JP Morgan (JPM) Moves Into Oil Trading, Just Too Good To Pass Up

Energy

Published: May 14, 2008 10:09 am

JP Morgan (JPM) will start to trade oil by the end of this year, and that is not just futures. According to Reuters "We will start trading in physical oil and refined products by the end of this year," the bank said.

JP Morgan is betting, to at least some significant extent, that oil prices will continue to move up.

When the smart money starts to think that way, crude may sell off to $50.

Douglas A. McIntyre

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