Malcolm Moore
speaker
398 appearances
3 recordings
2 series
first heard Apr 2026
last heard 18 Aug
Malcolm Moore’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Aug 2026 with 1.
Appearances
how much you're going to get for your oil in six months' time.
And if you're a buyer of oil, you're a refinery, and you're going to need crude in six months' time to turn it into fuel, you also need to know what sort of price you're going to pay because, hey, you'd rather fix it today than just take a chance that in six months' time it was something different.
That allows everybody to do their financial planning, right?
So it's a hedging tool.
It's basically you can take the risk out of the system.
You can say, today, the most I'm willing to pay or the least I'm willing to accept for my oil in the future is $80 a barrel, right?
That doesn't mean that in six months time, it's going to be $80 a barrel, because actually, when we get there, we can see that the curve has a terrible track record of predicting prices.
The curve always just gently slopes into the future, right?
Because, you know, that's what people do when they're trying to hedge their risk.
That's what risk hedging curves look like.
But when we get to the future, it's usually a totally different situation.
No, I don't think so.
Again, I don't think anybody in the market is trying to actually predict what the price is.
They're simply trying to settle at a level where both sides are happy and can make money.
And the financial players are there to absorb the risk from...
the physical players, the refineries and the oil producers.
So essentially, the oil companies and the refineries are transferring their risk to people who know how to manage risk, financial players.
And financial players are taking a cut and saying, we're willing to think that this is probably going to be around here.
I mean, it helps make the market run efficiently.
So I
Showing 261–280 of 398 · page 14 of 20
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