Foreign exchange
Indianapolis hedges against escalating fuel prices
A fuel hedge and savings programme has netted the US city of Indianapolis over $39,000 during the month of June, according to a press release from the Mayor’s office.
Commodities reshuffle at Morgan Stanley as Shapiro retires
Investment bank Morgan Stanley has reshuffled its commodity department, with head of commodities John Shapiro retiring.
Singapore announces commodities exchange
Trading technology company Financial Technologies Group is to launch a Singapore-based commodities exchange, it has announced.
Singapore announces commodities exchange
Trading technology company Financial Technologies Group is to launch a Singapore-based commodities exchange, it has announced.
Jet fuel futures contract takes off at MCX
Mumbai, India-based Multi-Commodities Exchange (MCX) has begun trading jet fuel futures contracts to help Indian airlines and refineries hedge against rising crude oil prices.
Triple Point acquires ROME
Risk management software provider Triple Point has acquired credit risk management provider ROME.
Barclays Capital launches US power index
Barclays Capital, the investment banking division of Barclays Bank PLC, has launched the first US national benchmark index for power prices.
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
Early trade slow at Canada's carbon exchange
The first Canadian carbon emissions exchange has opened for trading, but may struggle to find traction amid regulatory uncertainty, finds Katie Holliday
Hong Kong to launch new commodities exchange
Hong Kong is to launch a new exchange offering energy and commodity products in a bid to capitalize on the boom in Chinese demand for raw materials.
Brown calls for oil market transparency; reveals investment plans
UK prime minister Gordon Brown has today called for increased transparency in the global oil markets, and revealed a series of international energy investment initiatives.
EDF Trading’s Nordic office commences business
EDF Trading, the subsidiary of EDF responsible for wholesale energy market activity, announces the opening of its Nordic office in Oslo, Norway
Analysts see oil prices topping around $145/bbl
After rising an unprecedented $11 a barrel on Friday to reach a record high of $139.12/bbl, New York crude futures were seen to consolidate before rising again. However some analysts believe a cap on prices exists around the $145/bbl level
Dow and EDF Trading to cooperate on LNG
Dow Chemical Company and EDF Trading have signed a four year agreement to share liquefied natural gas (LNG) regasification capacity, in order to secure LNG cargoes destined for the European and US markets.
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.
Prices pose challenge for CFTC
The formation of the CFTC's new energy markets advisory committee (EMAC) has proven to be timely. David Watkins reports
Utilities seek new credit structures
As US utilities bail out of the auction market, they are turning to enhanced credit structures to refinance bond issues. Catherine Lacoursiere reports