WTI
Iraq adopts new pricing for US crude
Somo, the Iraqi state-owned oil marketing firm, has followed in the footsteps of Saudi Arabia and Kuwait by adopting the Argus Sour Crude Index (ASCI) to benchmark price sales of US-bound crude from April onwards.
Oil barrel prices to average $15 higher in 2010
The average oil price for 2010 will be $78.35 a barrel for WTI and $75.90 for Brent, according to a survey of eleven analysts conducted by Energy Risk last month. Price forecasts for 2010 are 25% higher...
UPDATED: Nymex follows Saudi sour crude endorsement with new contracts
Nymex is to launch two sour crude oil contracts after Saudi Aramco’s announcement this week that it will use the Argus Sour Crude Index (ASCI) as a benchmark for US sales from January 2010.
Saudi Aramco switches to Argus Sour Crude Index
Saudi Arabia’s national oil company Saudi Aramco is to use the Argus Sour Crude Index (ASCI) published by Argus Media as the benchmark price for all grades of crude oil sold to US customers from January...
Making markets
In the first of two articles tracing the beginnings of energy derivatives, Roderick Bruce talks to oil trading pioneers about the market’s formative years
Sovereign hedging lessons
Oil-hedging losses at Sri Lankan state-owned refinery Ceylon Petroleum Corporation are a lesson in the proper use of derivatives. By Joe Marsh
Oil Storage Data - Taking Stock
Volatile prices and perceived problems with WTI as a benchmark have triggered renewed calls for weekly European stock data to supplement US data. An EC directive is currently being discussed, but not...
Measure for measure
Claims that the WTI price benchmark has become ineffective have led some in the oil industry to call for a new US marker for sour crude. Roderick Bruce measures industry reaction and the potential for...
Opec keeps a tight grip
The latest production quota cut by the Organisation of Petroleum Exporting Countries has forced prices up, but will crude oil producers in Europe and elsewhere co-operate to help them stay up? EricFishhaut...
Koch markets first volatility swap
Koch Supply & Trading, a division of energy conglomerate Koch, has marketed the first energy volatility swap in a deal with hedge fund Centaurus, a move the Wichita, Kansas-based oil trader hopes will...
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