Goldman Says Wall Street Banks’ Exposure Was Behind Oil Rout

From Bloomberg Wall Street’s been abuzz about — and confused by — Tuesday’s epic plunge in the oil market. Any number of theories are flying around. But analysts at Goldman Sachs Group think they’ve uncovered one of the actual main culprits: a rush by Wall Street banks to cover their exposure to oil producers’ hedges. U.S. oil prices plunged 7.1 percent on Tuesday, the most in … Continue reading Goldman Says Wall Street Banks’ Exposure Was Behind Oil Rout