It has been a volatile year so far for oil traders. Having seen prices hit a 13-year low in February, there has been a 40% increase since then. However, amid strong volatility, prices are still down 70% from their 2014. More recently, the wild fluctuations in crude oil prices have meant that buying and selling oil has become difficult trades to make. It has also become hazardous to health too.
University of Exxon Study
A study by the University of Exxon has revealed that just two oil trades is the equivalent to one ride of the world’s largest roller coaster. The report, a result of 5-months study of oil traders, their health and the oil markets, provided a strong recommendation that all oil traders undergo a full medical examination and get a certificate of good health before making a trade.
Oil Traders Health
With the upcoming meeting between OPEC and non-OPEC members on April 17th, stress-levels, blood pressures and even heart attacks have become common-place amongst oil traders. Pressure for an oil freeze has been applied to Iran, who is insistent on returning to 2007’s pre-sanction levels. Iran only had the trade embargo lifted in January and is reluctant to limit its production.
The increased volatility in oil has led various international exchanges to implement the recommendations made by the University of Exxon. Canadian and Norwegian Oil traders now have to undergo a full medical before making a trade. The US and the UK are reportedly both considering the idea too, but no decision has been made yet.