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The Big Picture: Can Alan kill the oil price?

The US Federal Reserve Board recently increased the Fed Funds rate by 25 basis points to 1.5 percent. This was the second rate rise in as many months. Higher rates have been flagged for some time, although Alan Greenspan has always qualified his statements by saying the increases would be “measured”.

The Big Picture: Can Alan kill the oil price?

Higher rates will hurt lots of investors and asset classes, but perhaps the biggest losers will be the hedge funds, which rely on cheap money to leverage their bets. That leverage allows hedge funds to...

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