Daily Archives: October 23, 2011

Fine wine and crude oil dance in step …

A bottle of the best wine can cost over $5000, whereas an equivalent volume of crude oil (about a liter) sells for a dollar or less. The bottle of wine may taste a little rough, yet fine wine and crude oil have more in common than you may think. Their prices have risen and fallen in step in the last 15 years.

Wine experts usually explain the price movement by supply-side factors such as weather and age. But supply has only a small impact on prices. Continue reading

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