Energy
Spectron trades first OTC carbon option settled on CCFE
Energy broker Spectron has brokered the first over-the-counter carbon dioxide option settled against the Chicago Climate Futures Exchange (CCFE)
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate
Lehman bros to build natural gas trading hub
Global investment bank Lehman Brothers and its affiliate, Lehman Brothers Commodity Services (LBCS), is to build a 40 mile-long natural gas trading hub between Perryville and Delhi in Northeast Louisiana
Crude oil futures pass $80
West Texas Intermediate for October delivery closed at $80.09 a barrel in trading on the New York Mercantile Exchange Thursday, driven by continued concern about a report from the US Department of Energy showing that US crude inventory had fallen for the…
Sub-prime hits energy
The fallout from the US sub-prime mortgage meltdown is complicating seasonal uncertainties for energy markets. David Watkins reports
Big business responds to Australia’s carbon proposals
A report launched today by the Australian Business and Climate Group (ABCG) has highlighted that plans for an Australian emissions trading scheme (ETS) will not, on their own, be a sufficient response to meet future emissions targets.
Lithuania to auction EUAs
The Lithuanian Environmental Investment Fund is to offer 552,000 EU Allowances (EUAs) for online auction.
Nymex confirms sale talks
Following months of heightened speculation, Nymex Holdings, the parent company of the New York Mercantile Exchange (Nymex) has released a statement confirming it has been in “preliminary” talks to be purchased.
Evolution expands into global merchant banking
Evolution Markets Financial Services, a subsidiary of environmental market brokerage Evolution Markets, is set to expand its range of activities across global merchant banking within the environmental, energy and clean energy sectors.
House passes controversial energy bills
A controversial bill to re-direct $15 billion in oil-industry tax breaks towards renewable energy initiatives over the next decade has been passed in the US House.
Court of appeals rules in favor of Ice in Nymex litigation
The United States Court of Appeals for the Second Circuit has ruled in favour of IntercontinentalExchange in its long-running litigation with the New York Mercantile Exchange (Nymex) over the right of market participants to use Nymex settlement prices.
Wells Fargo to offer electricity price risk management, RECs
US financial services company Wells Fargo is to offer an electricity price hedging facility, enabling middle market companies to manage their power costs.
Bank of America invests in Climate Exchange
As part of a ten year, $20 billion environmental initiative, Bank of America has established a joint venture with Climate Exchange (CLE) by acquiring 0.5% of CLE’s current issued share capital.
Reports fuel supply fears
Upwardly revised oil price forecasts and recent reports from the International Energy Agency and the US National Petroleum Council point to growing unease about global energy supplies, writes David Watkins
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.
Merrill Lynch introduces energy efficiency index
Investment bank Merrill Lynch has introduced a new index, comprised of 40 companies from industry sectors that may benefit from the global drive to improve energy efficiency, reduce carbon emissions and the cost of energy.