Banks look again at oil

摘要

Higher prices and client demand are encouraging more banks to expand oil trading operations. Banks' corporate clients have diversified their dealings to reduce counterparty credit risk since the collapse of Lehman Brothers last year (AGM, 22 September 2008, p4). This has let more banks pick up new business, and several are expanding commodity trading, particularly in Asia, which is viewed as having the most growth potential for client risk management. JP Morgan and Bank of America Merrill Lynch are building up Asia-Pacific commodity teams.