Oil & refined products
Enthusiasm for hedging wanes among US airlines
Airline fuel hedging was once a thriving business for bank commodity desks. But now major US carriers are showing less appetite for hedging, while non-bank dealers such as BP and Shell are also muscling in on the airline fuel hedging business. Alexander…
Oil price fall spurs interest in trading, says panel
Financial traders such as banks are likely to benefit from a marked drop in oil prices and a rise in volatility, according to market participants speaking at a London conference
US airlines hesitate on fuel hedges despite price drop
Fuel hedging from airlines and other consumers is picking up in the wake of a drop in oil prices, but some firms remain too concerned about the prospect of a further fall
Energy Risk Asia Data Provider of the Year: Thomson Reuters
Thomson Reuters is responding to the specific needs of Asian energy traders, as demonstrated by the development of two oil modules for its Eikon trading software
Energy Risk Asia Oil & Products House of the Year: JP Morgan
Despite the sale of its physical commodities business, JP Morgan continues to offer liquidity in a broad range of crudes and refined products in Asia
Cosgrove moves into ethanol trading after GFI
After a three-decade career in energy brokerage, Michael Cosgrove has reinvented himself as an ethanol trader. Alexander Osipovich finds out why
Bertuccio leaves JP Morgan for Glencore Xstrata
JP Morgan oil origination veteran Michael Bertuccio has been appointed as head of origination and principal investments at Glencore Xstrata
Fragmentation seen holding back Canadian oil derivatives
The existence of several rival price indexes for Western Canadian Select is hindering the growth of financial trading in heavy crude oil from Alberta, market participants say
Oil benchmarks should diverge in coming year, says BAML’s Blanch
A spike in North American oil production and seasonal changes in demand should see WTI fall sharply later this year – a contrast with Brent, which is exceptionally stable, says BAML global head of commodities research in an exclusive video
Oil & Products House of the Year: BNP Paribas
BNP Paribas is holding the course in oil and refined products, as other banks abandon the commodities market
Deal of the Year: BP
Moving quickly, BP managed to salvage Iona Energy’s North Sea acquisition with an innovative crude oil options transaction
Tradition’s Pinchin looks back on successes and failures
David Pinchin, co-founder of Tradition Financial Services, speaks to Stella Farrington about his 30-year career in derivatives markets and how it informs his more recent work with disadvantaged youths
No easy way to hedge Bakken crude oil, say energy firms
Despite surging production in the Bakken shale region in North Dakota and Montana, trading remains fragmented and the market has yet to coalesce around one pricing point for crude oil production, making hedging difficult
Derivatives trading rises in North American regional crudes
As North American crude oil production surges, liquid financial markets are developing around grades such as Louisiana Light Sweet, Western Canadian Select, Mars and Midland, changing the behaviour of both physical hedgers and financial traders…
Citi hires Morgan Stanley oil veteran Randall O’Connor
Head of strategic transactions quits to join Citi as Morgan Stanley pulls back from physical oil trading
Looking back: oil market's future is different from its past
By 1994, the oil industry had changed irrevocably due to the increased use of derivatives – a trend that was discussed by Edward Krapels in an article for Energy Risk in June that year
Morgan Stanley crowns King as head of oil liquids
PetroChina hires BAML trader; Freepoint takes on BAML gas duo; Yew moves to GDF Suez; BAML hires FICC trading chief; Goldman metals trader leaves bank
Gulf War and supercycle are career highlights, says Saperia
Since Nigel Saperia first began working as an oil trader at Shell in 1976, the business of trading oil has been transformed. He speaks to Mark Pengelly
Morgan Stanley reshuffles oil liquids business amid Rosneft acquisition
Morgan Stanley names commodities CRO Nancy King as head of oil liquids business, while promoting former deputy Brett Humphreys to post of commodities CRO
Global Advisors’ Masters looks ahead to commodity rebound
Daniel Masters, the former head of energy trading at JP Morgan and co-founder of hedge fund Global Advisors, has seen his share of ups and downs. Alexander Osipovich reports
Platts shifts focus away from price reporting code
Price reporting agency says it intends to concentrate on complying with Iosco rules, leaving future of IPRO code in doubt
Oil benchmarks need reform, says Vitol's Taylor
Oil industry needs to make issue of dwindling benchmark production a top priority, says Vitol chief
Crude-by-rail data gains in value for traders
As an increasing volume of crude oil is transported via North America’s railroads, market participants are growing hungry for data and market intelligence on crude-by-rail. Such insight had been in short supply, until recently. Alexander Osipovich reports
Oil market faces tight deadline for Ice Brent protocol
As Ice prepares to shift Brent expiry calendar on December 6, Isda releases protocol to enable orderly transition of OTC market