Publications: Notes at the Margin

Volatility Matters (February 11, 2019)


This report has been discussing the impact of price volatility on oil prices. We have hit the topic again and again since the beginning of December. Our discussions then and now seem to have been ignored. Again and again, the people writing on oil markets today find one type of nonsense or another to explain price movements. This issue of our weekly report addresses the volatility issue in depth. We show that volatility is more important as a price determinant for oil and probably oil equities than almost any other factor.


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