Market risk
Oil broker PVM hit by trading loss
Oil broker PVM today said it has lost just under $10 million due to unauthorised trading in Brent futures contracts on June 30.
Icap offers cleared broking service to Iberian electricity market
Interdealer broker Icap Energy is to offer its cleared OTC broking services on the Iberian electricity market (Mibel).
Russia forges ahead with power market liberalisation
The freely-traded portion of the electricity market in Russia was increased from 30% to 50% on July 1. The rise is in line with the state's plans to achieve 100% free pricing by 2011 and sends a positive signal to the market that it will follow through…
Exelon increases NRG offer
Exelon Corporation has increased its offer to acquire all of the outstanding NRG common stock by 12.4%.
CME launches clearing services for physical NGL contracts
CME has announced the launch of clearing services for six new physically delivered natural gas liquids (NGL) futures contracts.
Baltic Dry Index altered to boost derivatives trading
Changes will be made to how the Baltic Dry Index (BDI) is calculated in an effort to boost derivatives trading, the Baltic Exchange announced today.
EEX to launch intraday nat gas auction
European Energy Exchange (EEX) will launch an intra-day auction on the German spot market for natural gas on July 15 2009.
IEA forecasts too optimistic says Barcap
Supply-side projections in the International Energy Agency's (IEA) Medium-Term Oil Market Report 2009 are "too optimistic" and "will be subject to substantial revisions in time," according to a research report by Costanza Jacazio, commodities analyst at…
GDF Suez boosts Hungarian electricity market
The Brussels-based trading arm of GDF Suez yesterday extended its market making service for Hungarian futures traded on the Prague Energy Exchange (PXE).
IEA reduces predictions for oil demand
The recession has seen the IEA revise down its predictions for oil demand in 2013 by 3.3 mb/d, with consumption falling as low as 84.9 mb/d by 2014 in the worst case scenario, and demand for gas dipping for the first time in 50 years.
New Austrian natural gas exchange to clear through ECC
European Commodity Clearing (ECC) is to offer clearing services for a new natural gas exchange at Austria's Central European Gas Hub (CEGH), hosted by Vienna Stock Exchange.
Revenues up in US E&P despite downturn
Exploration and production revenues of US oil & gas companies grew by 35% to $183.3 billion in 2008, according to a study by advisory firm Ernst and Young.
Dubai to price physical oil against DME Oman futures
Dubai Mercantile Exchange (DME) has confirmed that the Dubai Department of Petroleum Affairs (DPA) will set its official monthly selling price (OSP) for physical crude based on a differential to the settlement price of the DME's Oman Crude Oil Futures…
CCFE to list steel scrap contracts
The Chicago Climate Futures Exchange (CCFE) and pricing information company World Steel Dynamics (WSD) have launched the World Steel Exchange (WSE), a new exchange platform listing index-based cash-settled futures contracts for steel scrap.
Price fluctuations biggest risk for power companies says Aon
Volatile commodity pricing is the biggest risk facing power companies in 2009 according to risk management firm Aon's Global Risk Management Survey.
Glencore considers IPO
Swiss commodity trading giant Glencore is rumoured to be considering an initial public offering (IPO), according to the Financial Times.
Deutsche Börse introduces real-time information trading product
Deutsche Börse Market Data and Analytics has introduced a product that provides fundamental data for electricity trading and real-time data for the European power market.
Point Carbon launches US power trading product
Point Carbon, an energy and environmental market analyst, has launched its first power trading analytics tool for the North American market.
EEEM sees rising returns thanks to climate change investment
Energy efficiency and energy management (EEEM) received over $184billion of climate change stimulus funds and saw the strongest returns, rising 16% year to date, of the four climate sectors outlined in the latest quarterly review of the HSBC Climate…
S&P launches a new version of GSCI index
Standard and Poors (S&P) has launched a new version of its GSCI commodity market index.
EEX launches power market transparency platform
The European Energy Exchange (EEX) has created a new transparency platform to publish generation and consumption data to further increase transparency on the wholesale market in conjunction with four Transmission System operators (TSOs) in Germany.
Trayport to link to Nymex and Comex
Trayport has announced a deal to link its Trading Gateway system to the CME's Globex platform and ClearPort clearing system, providing users with access to Nymex and Comex energy and metals products.
GFI EnergyMatch adds dry freight FFAs
Interdealer broker GFI Group has introduced cleared over-the-counter (OTC) dry freight Forward Freight Agreements (FFAs) on to its European trading platform EnergyMatch Europe.
Saxo Bank lowers barriers for entry with launch of commodity CFDs
Copenhagen-based investment bank Saxo Bank has launched its first contracts for difference (CFDs) for investors in commodities, which the bank says will lower barriers to trading energy, metals, soft commodities and grains.