Oil & refined products
Sovereigns look to hedge fuel imports after Morocco deal
More energy importing countries are in talks about hedging fuel purchases after Morocco’s sovereign hedging deal, say bankers
Ice Brent changes prove a hard pill to swallow
Ice says a plan to shift the expiry dates of futures and options on Brent crude oil is an important fix that will tighten the link between the physical and futures markets. However, carrying out the necessary changes could be painful for market…
BAML hires former Barclays oil head
ABN Amro undergoes shake-up; Marex Spectron sets up iron ore desks; Skylar adds power and gas trader; Barclays hires in commodities; CFTC appoints acting enforcement chief
Ice bows to pressure on Brent contract changes
Exchange delays plan to shift expiry calendar for Brent crude oil futures and options after firms complain they need more time to prepare
Brent options trading disrupted by Ice expiry date shift
Proposals to ensure convergence between futures and physical Brent cause firms to avoid trading long-dated options
Barclays enters supply-and-offtake deal with US refinery
Barclays clinches deal with Hawaii refinery as US Federal Reserve scrutinises physical commodity trading by banks
Hess CRO Jonathan Stein prepares for shake-up
As Hess turns into a leaner, upstream-focused oil company, chief risk officer Jonathan Stein tells Alexander Osipovich how enterprise risk management will assist in the firm’s transformation
Asia Exchange of the Year: Dubai Mercantile Exchange
Steady growth and big ambition are on show at the Dubai Mercantile Exchange
Asia Oil & Natural Gas House of the Year: Citi
Citi has worked hard to rebuild its oil business and is one of very few banks that remain active in physical LNG
Peak oil enthusiasts might be giving up too soon
Proponents of peak oil should not capitulate too soon, as the days of oil – like those of horses – are numbered, writes Vincent Kaminski
Oil producer hedging surges amid Middle East turmoil
Elevated WTI prices, pushed up by regional unrest, are creating opportunities for US oil producers to hedge
Head oil trader leaves Barclays
Shake-up at Barclays continues as George Cultraro, global head of crude oil and refined products, leaves the bank
WTI rally offers limited upside to oil producers, say analysts
WTI rally may be short-lived, say analysts, while impact of backwardation is likely to be felt more strongly
Liquidity improves in Canadian heavy oil derivatives
Trading in derivatives linked to Western Canadian Select (WCS) heavy crude oil has jumped in the past few years, giving the country's producers improved opportunities to hedge. But the lack of a unified WCS price index has made it difficult for liquidity…
Low Brent creates window of opportunity for hedgers, say analysts
Brent crude oil offers a window for airlines and refiners to lock in prices, but opportunity won’t last forever, say analysts
Cutting edge: Correlation functions in the crude oil and natural gas futures markets
Given the importance of the crude oil and natural gas futures markets, the intra-market correlations in these markets play an important role in pricing, hedging and managing the risks of energy portfolios. This paper by Ehud Ronn contributes to the…
TNK-BP saga raises questions about BP's handling of political risk
Following a series of bitter spats with its Russian partners, oil major BP exited its Moscow-based joint venture, TNK-BP, in March. Market participants say the oil major’s experience holds lessons for other firms attempting to grapple with political risk…
Asian refinery activity boosts oil derivatives trading
The growing market clout of refiners in Asia is giving the region a healthy boost in trading activity for derivatives linked to oil and other refined products. With local refining capacity set to grow, the trend looks likely to continue – a development…
Platts and Shell seek support for competing Brent crude reforms
Oil major Shell and price reporting agency Platts offer rival plans to fix market distortions in Brent crude oil
Brent challenges WTI despite questions about oil benchmark
Brent is challenging West Texas Intermediate for the title of the world’s preferred oil benchmark. But as market participants flock to the North Sea crude contract, some critics question whether it is truly a reliable gauge of global prices. Alexander…
Low crude volatility to bolster spread trades, say analysts
Market participants expected to shy away from outright bets on crude oil as low volatility persists
Academic battle rages over oil speculation, high prices and volatility
In spite of attempts to impose commodity position limits in Europe and the US, a fierce battle continues to rage over whether speculation in oil is responsible for high prices and volatility. David Wigan reviews some of the arguments