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Commodities Bubble Risks Repeating if No Reform: EU
Topics:Hedge Funds | Regulations | Commodities | Italy | Russia | The Netherlands | Spain | Germany | France | Britain | European Union
Sectors:Oil and Gas
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Oil markets risk another price bubble if the global financial sector is not reformed and transparency increased, the European Union said on Tuesday.
In a statement issued in Brussels after a ministerial meeting with representatives of the Organization of the Petroleum Exporting Countries, the EU said the meeting had agreed the role of speculation in financial markets "had not been resolved."
"The 2008 bubble could be repeated if adequate regulatory reforms, including greater transparency, (are) not made as part of an overall reshaping of the global financial sector."
Copyright 2009 Reuters. Click for restrictions.
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