West Texas Intermediate (WTI)
Dodd-Frank puts market manipulation on the radar
Dodd-Frank regulation could usher in more market manipulation cases such as the recent CFTC case against Arcadia Petroleum, Arcadia Energy and Parnon Energy, say market experts
Q&A: Tony Hall at Duet Commodities Fund
After turning one of the highest proprietary trading profits in the history of Credit Suisse Commodities in 2009, Tony Hall launched hedge fund Duet Commodities Fund last year. He will be delivering the keynote talk at Energy Risk’s Commodities and…
Commodity prices seen as greatest threat to recovery: poll
Rising commodity prices pose the biggest risk to recovery after the 2008 global financial crisis, according to a risk.net poll
Oil options “frenzy” as corporates shift hedges in response to Mideast crisis
The sharp increase in oil price volatility resulting from political upheaval in Libya and the Middle East has pushed the volume of oil options traded to an all-time high. Ned Molloy reports
Volatility spike boosts oil options trading volume to all-time high
The sharp increase in oil price volatility resulting from political upheaval in Libya and across the Middle East has helped push the volume of oil options traded to a new all-time high
Brent-WTI spread broken: analyst
Brent-WTI spread causes concerns about oil benchmarks to resurface; Ice and Nymex defend use for futures contracts
DME's Q3 results point to struggle for crude futures
The Dubai Mercantile Exchange’s latest trading results reveal low liquidity levels for its key oil futures contract, despite a face-value surge in trading volumes
Low natural gas prices push producers to oil
US producers move to oil plays, 2011 natural gas hedging programmes not expected to support current production levels
Singapore’s commodities derivatives exchange to go live
Singapore’s central bank Monetary Authority of Singapore (MAS) gives the green light for new commodity and currency derivatives bourse
A turning point for crude oil indexes
In the year since major producers in Saudi Arabia and Kuwait adopted the Argus sour crude index (ASCI) as a pricing benchmark for their imports into the US, Alex Davis examines the impact the new benchmark has had on global oil pricing mechanisms
IEA: BP’s oil spill threatens future supply
The International Energy Agency (IEA) expresses major concerns over future oil supply, as new regulations threaten to tighten deepwater drilling, following BP’s Gulf of Mexico oil spill
New US derivatives rules to boost tech firms' energy business
The new US derivatives regulatory regime to raise transparency and reporting requirements for energy traders will present business opportunities for technology companies in the sector
New contract capitalises on Canadian heavy crude growth
A Canadian heavy crude oil contract launched this week will help oil market participants to exploit expected production growth in heavy crude from Canadian oil sands
Singapore's SMX WTI contracts seen struggling against NYMEX and ICE
The Singapore Mercantile Exchange WTI contracts, which offer a WTI contract throughout the Asian time zone, are unlikely to challenge Nymex and ICE, say market players
Global crude benchmark WTI is flawed, according to expert
The global oil industry is increasingly turning away from WTI as a physical price benchmark, says industry consultant
Oil sands supply weighs on WTI prices
Canadian oil sands could become the top source of US crude oil imports this year, according to a report published on Wednesday (May 19), raising concerns that oversupply of US crude will continue to weigh on prices
Iraq adopts new pricing for US crude
Somo, the Iraqi state-owned oil marketing firm, has followed in the footsteps of Saudi Arabia and Kuwait by adopting the Argus Sour Crude Index (ASCI) to benchmark price sales of US-bound crude from April onwards.
UPDATED: Nymex follows Saudi sour crude endorsement with new contracts
Nymex is to launch two sour crude oil contracts after Saudi Aramco’s announcement this week that it will use the Argus Sour Crude Index (ASCI) as a benchmark for US sales from January 2010.
Saudi Aramco switches to Argus Sour Crude Index
Saudi Arabia’s national oil company Saudi Aramco is to use the Argus Sour Crude Index (ASCI) published by Argus Media as the benchmark price for all grades of crude oil sold to US customers from January 2010.
Making markets
In the first of two articles tracing the beginnings of energy derivatives, Roderick Bruce talks to oil trading pioneers about the market’s formative years
Sovereign hedging lessons
Oil-hedging losses at Sri Lankan state-owned refinery Ceylon Petroleum Corporation are a lesson in the proper use of derivatives. By Joe Marsh
Measure for measure
Claims that the WTI price benchmark has become ineffective have led some in the oil industry to call for a new US marker for sour crude. Roderick Bruce measures industry reaction and the potential for a global sour crude benchmark
Oil Storage Data - Taking Stock
Volatile prices and perceived problems with WTI as a benchmark have triggered renewed calls for weekly European stock data to supplement US data. An EC directive is currently being discussed, but not everyone is in favour of this, finds Rachel Morison