
Editor's letter
Congratulations on surviving another year in the volatile energy markets! With office parties well and truly over and annual bonuses (hopefully still) in the bank, it's time to look ahead at what 2007 might bring.
Taking the pivotal oil markets as a guide, it would seem unlikely that prices anywhere in the complex are going to fall significantly this year. The traditionally conservative US Energy Information Administration expects WTI to average just above $65 a barrel (bbl) in 2007, slightly below last year's average of around $66/bbl, but well above the 2005 price of $56.49/bbl and the 2004 price of $41.44/bbl.
Meanwhile the Henry Hub price is expected to average $7.87 per thousand cubic feet (mcf) in 2007 up from $7.06/mcf in 2006. As our Special Report on natural gas discusses, storage capacity is a growing concern in the US, with some experts believing that new build is unlikely to take place early enough to alleviate price spikes if there are supply disruptions or a cold winter to hike demand in the coming months.
Our gas report also questions Russia's ability to supply what Europe is expecting in the short-term. More positive though are developments in European gas trading, particularly in Germany, which, as one expert commentator says, is finally beginning to look like a success story.
Also in this issue, we bring you a special feature looking at some of the most interesting structured deals to have taken place in the energy markets in recent months. The six deals we feature have all broken new ground in different areas and are a testament to the talent in this sector.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Eurozone needs harmonised resolution tools, officials say
Commission proposals could bolster stability and common deposit insurance plans, say supervisors
Risk managers mull Basel-style climate standards
Risk Live: Splintered approach to stress-testing across jurisdictions “very, very worrying”, says risk expert
Forced CS merger casts doubt on use of resolution regimes
Risk Live: Spreads on European AT1 bonds still wider than before March bail-in
Regulators’ remorse: SVB and the case for IRRBB capital charges
Basel Committee chair among those who say Pillar 1 capital requirement could have helped control SVB risks
Improving efficiency and your financial crime compliance programme
The financial crime landscape is constantly evolving, and organisations are facing increasing pressure to stay compliant with rapidly changing regulations and combat financial crime effectively. At the same time, organisations must balance the need for…
Basel’s IRRBB shock scenario update hit by US crisis
Recalibration of shocks had been touted for Q3, but wider rethink may now cause delay
HKMA launches consultation on green taxonomy
Regulator could use proposal to assess progress of banks towards climate goals
After SVB downfall, EBA stress test seeks out unrealised losses
European regulator asks for data on the fair value and sensitivity of bonds and their hedges