Commodities
Safe to come out?
As energy traders take stock after the unprecedented market turmoil of September, the Energy Risk team asks a range of key players what effects they expect the investment banking crisis to have on commodities trading and risk management
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk
UBS exits commodities
Investment bank UBS has announced today that it will end its trading operations in the commodity markets, except precious metals.
Merrill Lynch European power market expansion plans remain in place
Merrill Lynch’s plans to expand further into European power markets remain unaffected by the bank’s impending merger with Bank of America, says Rupen Tanna, managing director and co-head of commodities.
Gulf Coast refineries resuming output at reduced rate
Many US Gulf Coast refineries which shut ahead of Hurricane Ike should be operating within a week following site damage reports, according to a Platts report.
Almost 1.3 MBD US Gulf oil output still down
Some 99.6% of the US Gulf of Mexico’s oil output of 1.3 million barrels a day remained down Sunday, according to the US Minerals Management Service (MMS), following hurricane Ike which hit the Houston area on Saturday.
A path for renewables
Renewable energy needs to become a bigger part of the US energy mix, but there are still a number of hurdles to clear, explains Richard McMahon of the Edison Electric Institute
Limited oil and gas resources seen as biggest risk for NOCs
Limited oil and gas resources were identified as the highest risk issue for national oil companies (NOCs), according to a survey of NOCs by risk advisory firm Marsh.
Trading strategies - Walking a fine line
A worrying trend is emerging in the UK corporate world, with many companies adopting extremely risky strategies in a bid to reduce their exposure to energy price volatility, says Utilyx chief executive Chris Bowden
Commodities reshuffle at Morgan Stanley as Shapiro retires
Investment bank Morgan Stanley has reshuffled its commodity department, with head of commodities John Shapiro retiring.
T Boone launches wind power plan
Texas oilman T Boone Pickens has launched a plan to address the United States’ dependence on foreign oil by aiming to generate at least 20% of the nation’s energy supply through wind power.
Texas power spikes set tone for summer
Recent surges in US wholesale power prices are driving debate as to whether current spark spreads are large enough to encourage new build. David Watkins reports
Texas power spikes set tone for summer
Surging wholesale power prices in the ERCOT region may set the tone for a summer of skyrocketing costs, say analysts.
Deutsche Bank revises carbon price forecast – good news for CCS
Deutsche Bank has forecast a 2008 EU Emission Allowance (EUA) price of €40 per tonne, up from €35. The bank says a price of €40 will be high enough to incentivise future power plant and carbon capture and storage (CCS) build.
Rising costs hinder new power plant builds
Costs of building new power plants in North America have surged dramatically since 2000 and will continue to rise, the IHS CERA Power Capital Costs Index (PCCI) has revealed. According to the index, the costs have escalated by 130% since 2000 and…
'Boom cycle' for US power prices
With input costs surging and demand growth currently outpacing supply additions in the US power market, analysts are expecting the space to tighten further. David Watkins reports
UBS launches freight market investor index
Investment Bank UBS has launched the UBS Blue Sea Index (UBS-BSI), the first tradable investment index in the dry freight derivatives market.
Nymex and LCH.Clearnet form clearing alliance
New York Mercantile Exchange (Nymex) and clearing house LCHClearnet will team up to offer two energy contract slates, one cleared by Nymex ClearPort in New York and the other cleared by LCH in London.
Oil reaches new record as gas continues to rise
Crude oil futures closed at a record $102.59 on the New York Mercantile Exchange (Nymex) Thursday.
Imarex buys Spectron
Imarex ASA, the holding company that owns Oslo-based broker / exchange Imarex and clearing house NOS, has agreed to purchase interdealer broker Spectron Group for £70 million ($138 million).