West Texas Intermediate (WTI)
Nasdaq energy futures face liquidity challenge
New energy futures exchange seeks to win market share from CME Group and Ice with cheaper lookalike contracts, but traders say it faces an uphill battle to attract liquidity
Trading calendar spread options on energy futures
This excerpt from the new CME Group white paper on calendar spread options (CSOs) explains what CSOs are and how they are used in crude oil and natural gas markets.
Oil & products house of the year: Citi
The US bank has assisted oil producers and airlines whiplashed by crashing prices
Flood of oil ETF investors reshaping market, analysts say
Investors stampeded into exchange-traded funds tied to crude oil futures in early 2015. Analysts say the huge inflows halted the plunge in oil prices, at least temporarily, and enabled significant producer hedging. But not everyone agrees
IEA, IEF and Opec probe role of markets in oil crash
The impact of US shale oil, financial speculation and bank commodity exits was high on the agenda at a joint meeting held by the IEA, IEF and Opec in Vienna
Bank and investor exodus worsened oil rout, traders say
The role of financial trading in the recent collapse of crude oil has added a new twist to the old debate over the impact of speculation on commodity markets. Did retreating index investors, short-selling momentum traders and risk-averse banks exacerbate…
Oil rout roils E&P and airline hedging strategies
Corporate risk management programmes have had a mixed track record amid the recent plunge in crude prices. Oil producers with a conservative approach to hedging are emerging as some of the winners, while some airlines are feeling regretful about their…
CFTC slammed for using ‘ancient’ position limits data
Energy firms are criticising the CFTC's proposed rule on commodity derivatives position limits under Dodd-Frank, saying it relies on decades-old data to set spot-month limits
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
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
Bank-led commodity decorrelation theory rejected by analysts
Unctad economists' argument that bank withdrawals are loosening correlation between commodities and equities "doesn’t make any sense", say analysts
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…
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
More US oil producers hedging with non-WTI crudes
Increased volatility pushes oil producers to hedge with LLS, WCS and other regional crudes
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 producer hedging surges amid Middle East turmoil
Elevated WTI prices, pushed up by regional unrest, are creating opportunities for US oil producers to hedge
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
Physical flows will foster changes to energy benchmarks
Growth in WCS derivatives volumes highlights continuous evolution of the energy derivatives market
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…
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…