Lehman's latest report - Is it a Bubble? - says commodity index funds have exploded from $70bn (£36bn) to $235bn since early 2006. This includes $90bn of fresh money. Energy takes the lion's share. Every $100m flow of investment money into oil lifts crude prices by 1.6pc, it said.
"We see many of the ingredients for a classic asset bubble," said Edward Morse, Lehman's oil expert.
Friday, May 23, 2008
From the Telegraph: