BERLIN. Rollover Risk in the Oil Market. The issue of rollover risk has come into particular prominence since the substantial losses incurred by the German company Metallgesellschaft and its US oil refining and marketing subsidiary MGRM. In brief, as
the oil price fell MGRM was required to fund its futures position; eventually the position was closed out in 1994 with MGRM incurring substantial losses (see Culp and Miller, 1995).
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