Commodity markets
Open outcry fading away as Nymex fends off rivals
New York Mercantile Exchange (Nymex) chairman Richard Schaeffer said today that 80% of the exchange’s business is now done electronically, as the open outcry trading floor becomes “less and less meaningful”. He also outlined ambitious plans for 2008, and…
Crude hits new record high
Crude oil futures closed at a new record high Tuesday, driven by supply concerns and the dollar’s continued woes against the Euro.
Amaranth denied by court
A New York judge has denied Amaranth Advisors’ request to prevent the Federal Energy Regulatory Commission (Ferc) from pursuing legal action against it while it was being sued by another federal agency.
Mixed reception to oversight efforts
Attempts by the US Senate to grant the CFTC greater market oversight have met with a mixed response, writes David Watkins
Crude price surges past $95
Crude oil futures closed at a new record high Wednesday, driven by U.S. crude inventories dropping to the lowest level in two years and a falling dollar following the Federal Reserve’s rate cut.
Crude oil sets new price record
Crude oil futures closed at a new record high Monday, driven by tight fundamentals, geopolitical tensions and a production setback in Mexico.
New price record for crude
Crude oil futures closed at a new record high Friday, driven by tight fundamentals and geopolitical tensions.
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate, writes David Watkins
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate
Sub-prime hits energy
The fallout from the US sub-prime mortgage meltdown is complicating seasonal uncertainties for energy markets. David Watkins reports
White House pushes for futures fees
The Bush Administration has requested that the House of Representatives approve a proposed transaction fee on futures and options contracts.
CFTC: Amaranth manipulated gas prices
US futures market regulator alleges that the defunct hedge fund sought to influence the settlement price of Nymex natural gas futures by selling heavily during the closing range. David Watkins reports
First oil futures curve ETFs to list on LSE
Within the next two weeks The London Stock Exchange (LSE) is expected to list the first exchange-traded funds (ETFs) exposed to parts of the oil futures curve.
“Enron Loophole” will soon be closed: Levin
Senator Carl Levin, who chairs the US Senate's permanent subcommittee on investigations, has said that he will soon introduce legislation that will increase regulatory scrutiny of the over-the-counter (OTC) markets.
Amaranth manipulated gas prices: CFTC
The US Commodity Futures Trading Commission has charged failed hedge fund Amaranth Advisors and its former head trader, Brian Hunter, with trying to manipulate natural gas futures prices.
WTI, Brent climb after IEA report
A report from the International Energy Agency (IEA) has called for the Organisation of Petroleum Exporting Countries (OPEC) to increase production in order to relieve market tightness going forward.
Nymex calls for full ICE regulation
The New York Mercantile Exchange (Nymex) has called for full regulation of its Atlanta-based rival IntercontinentalExchange (ICE) following a federal report which said that the current jurisdiction of federal regulators is not wide-ranging enough.
Physical delivery hits 4000 mark on DME Oman contract
The Dubai Mercantile Exchange (DME) has revealed key statistics following the first full month of trading at the exchange. 4000 Oman crude oil futures contracts went for physical delivery in August, a figure that has, according to the DME, only been…
Amaranth report to ring changes
Release of report into collapse of energy hedge fund Amaranth Advisors looks set to change the way OTC markets operate in the US
Analysts question WTI/Brent spread
The spread between West Texas Intermediate (WTI) and ICE Brent has narrowed significantly, hitting $0.95 this week from a high of $7.34 in mid-May.
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.