Oil’s Rangebound Trading Pushes Volatility Measure to 2019 Lows
- Traders watch Iran president’s death, Saudi King’s health
- Analysts downplay impact of events for global oil prices
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Even with big events happening in the Middle East, oil trading has been relatively lackluster as volatility seeps out of the market.
Prices have stayed rangebound, with traders searching for direction ahead of OPEC’s production meeting in June. That’s sent a key measure of market swings to the lowest since in roughly five years: Brent’s second-month rolling volatility reached the lowest levels since 2019.