JPMorgan to start physical oil trade, eyes $200 oil

JPMorgan Chase & Co will begin trading physical oil by year-end, increasing its exposure in a market that could rise to $200 a barrel, the bank’s global head of commodities said on Wednesday.

The bank plans to expand in commodities and energy trading, Blythe Masters said, despite expectations of job cuts in other areas as it prepares to take on staff from Bear Stearns (nyse: BSC – news – people ) at the same time it deals with turbulent financial markets.

Forbes