Energy emergence 'will change financial climate'

Frances Hudson, Global Thematic Strategist for Standard Life, said analysis of oil prices has become more complicated with the inclusion of geopolitical and technical influences. She added that, while this market is traditionally priced in US dollars, there is now increasing flexibility in how oil is paid for. This is particularly significant with Russia pushing for a larger role for the rouble, and more contracts are also being paid for in yen or euro. Hudson said: “While previous periods of high energy prices in the 1970s had seen the bulk of oil revenues being saved, it is different th...