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Oil loses lustre as banks cash in on cleaner commodities

Updated : June 03, 2019 01:18 PM IST

The shift in staffing at the world's biggest investment banks comes at the expense of oil, which has fallen out of favour after being the most profitable and best-staffed commodities business for years.
Industry sources said banks including Citi, JPMorgan and Bank of America have been building up their power and gas businesses in the United States, where Goldman Sachs has also expanded in power.
Oil loses lustre as banks cash in on cleaner commodities

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