Oil recovery hits Saudi devaluation bet

*Investors would have lost 1.8% since forwards’ January peak *GCC pegs have survived 30 yrs of oil-price fluctuations: HSBC 27 March 2016, Riyadh — Oil’s rebound to about $40 a barrel means some investors are nursing losses after betting that Saudi Arabia would abandon its three-decade-old currency peg. Contracts used to speculate on the kingdom’s […] More »