It's not just the annual summer slowdown that is to blame for a drop in the level of trading activities in crude future contracts, which are currently the lowest they have been since 2014.
Ehsan Khoman, Head of MENA Research and Strategy, speaks on this week's podcast on some of the market movements we have seen over the last six weeks, and how the recent flattening in prices is clouding the future direction of the market.
Click below to hear more.
If you can't see the media player above, you can also listen to the audio file using the following link on your computer or mobile device. The podcast is also published on Apple Podcasts and Spotify.
Download: The summer lull in global oil markets: The MUFG Global Markets Podcast (MP3)
You can view more insights from Global Markets Research on their dedicated website. Access requires log in details.
Follow Ehsan Khoman on Twitter for more global markets insights.