News
EBRD to support Ukraine gas reforms
The European Bank for Reconstruction and Development (EBRD) is to provide a sovereign-guaranteed loan to Ukraine's state-owned energy firm Naftogaz. The loan will aid a government plan to reform Ukraine's struggling energy market and secure the transit…
Spectron joins ICE eConfirm
Global brokerage Spectron has signed up to the Intercontinental Exchange's eConfirm Broker Matching Service for over-the-counter trading.
UK scraps carbon VAT to tackle fraud
The UK government has moved to tackle VAT fraud on carbon credits by removing VAT from emission allowances.
BHP Billiton offers 30% of iron ore contracts for sale
Global mining company BHP Billion has announced that 30% of its total iron ore volumes will be sold on a mix of quarterly negotiated pricing, market clearing price (spot market) and index-based pricing. The move has boosted confidence in the development…
ICE Futures Europe data added to COT reports
The Commodity Futures Trading Commission (CFTC) is to include positions of traders in West Texas Intermediate crude oil contracts on ICE Futures Europe in future Commitments of Traders (COT) reports.
US legislators outline derivatives proposals
Two committee chairmen from the US House of Representatives have published a concept paper on regulation of over-the-counter (OTC) derivatives designed to guide any future legislation.
E.ON Energy Trading joins CEGH
EON Energy Trading has joined the Central European Gas Hub (CEGH) at Baumgarten. The move is part the company's plans to expand its gas trading activities in Central and Eastern Europe in an effort to improve market access and develop a more integrated,…
CME launches cleared OTC agricultural options
CME Group today announced the launch of 10 cleared over-the-counter (OTC) options on physical agricultural commodities, beginning August 24.
Bursa Malaysia sets up Shariah-compliant commodity platform
Commodities exchange Bursa Malaysia has signed an agreement with 26 companies to launch a Shariah-compliant commodity trading platform, Commodity Murabahah House (CMH).
Financial crisis hits European Energy Exchange
Trading volumes at the European Energy Exchange (EEX) have slumped in the first half of 2009 after years of continuous growth. An EEX report highlights a particular decline in power derivatives volumes traded by financial institutions, despite a boost in…
Banks step forward at second CFTC hearing
Investment bank structures came under fire today at a Commodity Futures Trading Commission (CFTC) hearing called to examine position limits and hedge exemptions in the energy sector.
Regulator re-opens speculation debate
At the first of three hearings on possible methods to control oil price speculation today, the Commodity Futures Trading Commission (CFTC) chairman called for serious consideration of the need for position limits in energy trading.
Spectron brokers first UK month-ahead power index deal
Interdealer broker Spectron's UK power desk yesterday brokered the first reported trade based on the new London Energy Brokers' Association (LEBA) Month-ahead UK Power index.
CFTC to regulate ICE natural gas contract as SPDC
The Commodity Futures Trading Commission (CFTC) has imposed new regulatory and reporting requirements on a natural gas contract traded on the IntercontinentalExchange.
Market uncertain over oil price direction
Analysts at investment banks are divided in their views over the average price of crude oil for the rest of 2009 and into 2010.
Nexen considers sale of marketing businesses
Nexen may sell all or part of its natural gas and power marketing businesses as part of a strategic review announced just over a week after it reported a drop in quarter two earnings.
CFTC sets dates for position limits hearings
The Commodity Futures Trading Commission (CFTC) will hold the first of three open hearings to discuss energy position limits and hedge exemptions on July 28, 2009.
SMX selects Standard Chartered as clearing bank
The Singapore Mercantile Exchange (SMX) has appointed Standard Chartered to provide its clearing and settlement services.
Airlines to face €1 billion carbon bill in 2012
Aviation's entry into the European Union Emissions Trading Scheme (EU ETS) in 2012 is set to cost the sector €1 billion, a report by carbon analysts Point Carbon has shown.
IEA outlook for oil supply too bullish says Calyon
The International Energy Agency's Medium-Term Oil Market Report 2009, released on June 29, was surprisingly bullish on oil supply, according to Christophe Barret, global oil analyst at French bank Calyon.