Calling for an “inclusive energy strategy,” the Saudi Arabia minister of petroleum and mineral resources listed factors of price volatility among “newly emerging challenges” facing the oil and gas industry.At a Cambridge Energy Research Associates conference in Houston, Ali I. Al-Naimi said those challenges include globalized capital markets, emergence of energy as an asset class, and climate change.Governments hoping to stabilize markets have been slow to respond to the new speed, scope, and complexity of capital markets, Al-Naimi said.At the same time, investors’ strategies for oil have become increasingly sophisticated and oriented to trading against other...