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Saudi Energy Minister: The oil futures market is caught in a self-perpetuating vicious circle

 Last Update: 2023-01-08
 Source: Internet
 Author: User

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Asked if he was concerned about current market conditions, the Saudi energy minister said the oil futures market is caught in a self-perpetuating vicious circle with very thin liquidity and extreme volatility, weakening the market's basic function of regulating prices and making it impossible for physical users to bear the cost of
hedging and managing risk.
This has had a negative impact on the smooth and efficient operation of oil markets, energy commodities and other commodities, creating new types of risks
.
This vicious circle is amplified by many factors, including unconfirmed reports of demand disruptions, recurring news about the recovery of large supplies, and ambiguity and uncertainty
about price caps, embargoes and the potential impact of sanctions.

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