In recent months, traders and fund managers have left the crude markets, reducing activity to a seven-year low amid the worst global energy crisis in decades, as investors do not want to deal with constant high volatility.

The exodus of participants, especially hedge funds and speculators, has led to much larger daily price swings than in previous years, making it difficult for companies to hedge physical oil purchases. The volatility has hurt companies that need energy market stability for their operations, which includes oil and gas companies as well as manufacturing and food processing companies.

Brent crude oil futures are changing sharply on a daily basis. Since Russia’s invasion of Ukraine on Feb. 24 through Aug. 15, the daily range between session highs and lows for Brent crude has averaged $5.64. During the same period last year, the figure was $1.99, a Reuters analysis of Refinitiv Eikon data showed.