Oil prices and the Iraq war: market interpretations of military developments
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Authors
Looney, Robert E.
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Advisors
Date of Issue
2003
Date
Publisher
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Abstract
By their nature, crises tend to have a negative impact on markets and economic
activity. In a play on the old market adage, "buy on the rumor, sell on the
fact," market wags now advise one to "sell on the saber-rattling, buy on the bullets."
Another variant suggests a wise movejs to "buy when you hear the sound of
the cannon, sell when you hear the sound of the church bells."1 While no doubt
good advice in many cases, are these words of wisdom good guidance when it
comes to oil markets during periods of war and conflict?
Type
Article
Description
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Department
Economics
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Citation
Journal of Energy and Development, Vol. 29, No. 1, 2003.
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This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.