Resource Insights: Oil decline: Price makes the story.
When the world’s business editors sent their reporters canvassing to find out what is behind the recent plunge in the world oil price, they were doing what they do almost every day for every type of market: stocks, bonds, currencies, commodities and real estate.
In financial journalism more often it’s the price that makes the story rather than the story that makes the price. If a story is about something very surprising which almost no one can know in advance–a real scoop–say, an unexpected outcome in a major court case affecting a company’s most profitable patent, then the story will move the price of the company’s stock.
But much more often prices move, and then business editors send their reporters to find out why. Usually, a number of financial and industry professionals are asked: Why do you think prices went up/down? Then, the story is written and published.
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