Oil prices are somewhat down from their recent peaks, and oil price volatility is off the high levels of the last half-dozen years.

FORBES: A Shield Against The Next Oil Shock

Investors continue to expect steep oil price volatility in the months ahead as political strife continues in the Arab world pushes prices higher and the recession bound economies of Europe are pushing prices lower.

FORBES: Oil Prices Show No Clear Direction, Consultant Says

These are not household names, but they are a way to get into Russia without being loaded up on Gazprom, Lukoil and Rosneft shares, especially considering their correlation to oil and gas price volatility.

FORBES: Van Eck Global Makes Case for Russia Small Cap

And then there's counter-claim: the Scotland Office highlighting the volatility of the oil price as a key component of budgeting.

BBC: Fact check: The boys from the black stuff

In a worrying move, Mr Chavez changed the rules of a new stabilisation fund, which is supposed to smooth out the economic impact of volatility in the oil price.

ECONOMIST: Chavez’s muddled new world | The

At the same time implied (annualized) volatility, reflecting the oil market's expectations about price fluctuations, is running around 45%, 15 points above normal levels.

FORBES: Magazine Article

Between 80-90% of Soviet annual hard currency earnings stem from just four export items oil, gas, arms, and gold commodities which face substantial price and market volatility.

CENTERFORSECURITYPOLICY: US Trade Relations with The USSR and Eastern Europe