Energy Risk Europe 2012: Speculation tending to push oil prices lower
Since late 2008, speculators in oil markets have contributed more to price falls than prices rises, according to Leo Drollas, chief economist at the Centre for Global Energy Studies (CGES).
Delivering the keynote speech at this year's Energy Risk Europe conference, Drollas said that, although he believes speculation did contribute to the oil price spike in July 2008, since then speculative intensity has usually been accompanied by a drop in price.
According to CGES' Index of Speculation Activity
More on Oil & refined products
A Hormuz tipping point may be days away
Agent-based model suggests delays and shortages likely to accelerate after four weeks
Energy Risk reaction: Impact of Middle East conflict on hedging and longer term risk
Energy Risk talks to Riccardo Rossi at Centrica Energy and Rob McLeod at Hartree Partners about the impact of the Iran crisis so far on firms exposed to energy
Iran strikes a stress test for CCP margin models
CME’s Span2 and Ice’s IRM2 are performing as advertised. The next few days could test their mettle
Energy Risk reaction: Venezuela and oil sanctions
Energy Risk talks to Rob McLeod at Hartree Partners about the energy risk implications of the US’s control of Venezuelan oil
Energy Risk Europe Leaders’ Network: geopolitical risk
Energy Risk’s European Leaders’ Network had its first meeting in November to discuss the risks posed to energy firms by recent geopolitical developments
US shutdown leaves commodity traders without key data
Commodity traders are ‘flying blind’ without Commitment of Traders reports
Energy Risk at 30: Learning from the past
Energy Risk looks back at the seminal events and developments that have shaped today’s energy markets
Why Iran tensions failed to rattle markets
Despite initial fears, traders say risks were signposted and investors had deleveraged after April
