It can cynically be called ‘special military operation’ or a few thousand miles south, perhaps justifiably, the right to defend oneself. The fact of the matter, however, is that wars are raging in Eastern Europe and in the Middle East.
The smartest oil trader will become insolvent quickly if she is the only one who reads fresh developments and events correctly, whilst the rest of the market takes a contrary view and makes counterintuitive bets resulting in taking all her money.
Russia’s invasion of Ukraine triggered a sharp but brief rally in oil prices. The terror attack on Israel, the retaliation in Gaza and the resultant atrocities on commercial ships in the Red Sea also failed to cause considerable anxiety amongst market players.
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