Risk premium
The extra price or return investors demand because something might go wrong, such as a supply cut, a default or a war. It is not published; it shows up when prices move on news that changes no physical flow.
Example
Brent crude fell 7.6% to $104.77 on 2 November 2026 after Iran signalled openness to peace talks, though no extra oil had arrived: traders said the risk premium was "seeping out".
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