Affected by the war in Iran and the Russian-Ukrainian conflict, oil traders are becoming more cautious about long-term positions. Brendan Ross, co-head of global oil trading at Morgan Stanley, said that traders are concentrating their derivatives positions on the short term and managing risk has become more “rational and prudent.” He added that at a time when geopolitical risks are rising, traders are more selective in choosing targets, shifting from extensive derivatives exposure to specific trading products.

Affected by the war in Iran and the Russian-Ukrainian conflict, oil traders are becoming more cautious about long-term positions. Brendan Ross, co-head of global oil trading at Morgan Stanley, said that traders are concentrating their derivatives positions on the short term and managing risk has become more “rational and prudent.” He added that at a time when geopolitical risks are rising, traders are more selective in choosing targets, shifting from extensive derivatives exposure to specific trading products.