As racketeering charges are laid against JP Morgan’s precious metals traders, DOUBLE DOWN asks Chris Cook if the same could happen in energy markets which he says have been manipulated since 2001. As the players in this market are big nation-states, like China, who have huge strategic reserves, he doubts it. They discuss the latest alleged attack on a Saudi oil facility and why the impact on price was so brief. Cook does not believe Iran had anything to directly do with it as there was so little to be gained for them to do so especially as they had just struck a big deal with China. And it is in China’s interest to keep oil flowing from their largest suppliers of energy supply. Tune into Double Down to hear what Chris Cook has to say.
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