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Tuesday, March 28, 2023

Oil and gas traders escalate crisis to cash in more

For most of the world’s population, governments, resource producers, global instability and the troubling spasms of energy markets in recent years have caused nothing but frustration, anxiety and even energy poverty.

But for energy traders, things are looking better than ever. A volatile market is music to the ears of an energy trader. Many of them have made more money than ever in the turbulent environment of recent years thanks to covid-19, the conflict in Ukraine and the resulting sanctions with retaliatory measures, and all kinds of extreme weather events, writes OilPrice columnist Hayley Zaremba.

All of these factors contributed to the speed and depth of the energy war between Russia and Europe that tore the global economy apart. It has also contributed to the incredibly rapid growth of green energy in many of the countries hardest hit by the energy crisis. Even some of the most unlikely fossil fuel-dependent candidates have been able to switch to renewables in record time. But the global market is stabilizing and this is bad news for traders as they push forward a mega crisis to generate even more revenue, breaking last year’s record.

After years of a steady trend of increasing interconnectedness in the global energy market, there is now a wave of protectionism and “commitment to friends” instead of free trade in the open market. This means that in the context of the current conflict, many countries are shifting their supply chains to “safe countries” with similar values ​​and political views. Determining spheres of influence and assessing the reliability and loyalty of suppliers and countries is on the agenda, according to a recent analysis by Stiftung Wissenschaft und Politik, the German Institute for International Affairs and Security.

All of these changes are creating unprecedented uncertainty.

The energy crisis and Russia’s NWO in Ukraine added to the volatility sought by traders. Their greed is fueled by understanding how one product can affect another – for example, high gas prices limit metal production and increase the cost of fertilizers, writes Bloomberg.

At the same time, if humanity has learned anything in the last two or three years, it’s that traders, traders like to create dangerous bubbles and disaster situations in the markets and will find a way to monetize the problem another in their profits anyway. But above all, they will not stop on their own.

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