Commodity and Energy Derivatives House of the Year - Barclays Capital

risk-090101-25-gif

Oil markets have seen wild swings in prices over the course of 2008. Having started the year at $90.54 per barrel, the active-month West Texas Intermediate crude oil futures contract on the New York Mercantile Exchange (Nymex) climbed to a record closing price of $146.85 on July 14, before diving to $36.22 on December 18.

Falling prices have caused losses for many, particularly those investors who are long commodity indexes. But price fluctuations haven't been the only source of turbulence. The