End-users rush into hedging oil prices

Oil end-users are using 2010 to lock in oil prices for at the least the next year, as prices remain in a tight range of $70–85 per barrel (bbl) says Standard Chartered Bank's Helen Henton.

"Oil prices have remained quite stable this year, compared to other years," says Henton, when speaking at the Energy Risk Asia conference in Singapore. "Oil has remained tightly within a range, with a floor at $70/bbl and a ceiling around the $85/bbl mark. End-users have been rushing in to hedging their future