The goal of this paper is twofold: (1) to describe the new outlook of LNG markets, which has become more and more spot-centric, with Asian LNG futures bringing transparency to spot and forward prices; and (2) to address the valuation of the rerouting…
Energy Risk Awards 2020: Firm’s wide commodities presence, physical and financial risk expertise and financing capabilities result in standout deals
This paper studies the optimal extraction and taxation of nonrenewable natural resources.
Tools to manage LNG freight risk were developed last year, but how is the market responding?
Increased climate policy will put more oil and gas assets under threat of stranding
After a difficult 2018, investors are increasingly wary of risk premia, concerned that factors leading to underperformance might be a recurring problem. Imene Moussa, executive director at UBS, clarifies this issue
This paper models natural gas returns explicitly, allowing for market participants to learn over time and to react differently to present changes in economic variables. This learning and adaptation, and the attendant parameter uncertainty, constitutes…
Macquarie is uniquely positioned to offer clients a range of products, expertise and experience across the commodities space. Nick O’Kane discusses the bank’s approach to commodity markets and what he expects next
As the end of the 90-day truce in US-China trade hostilities looms, commodity markets brace for uncertainty
Energy Risk Asia: energy majors and other entities taking up space vacated by banks
This paper looks at the conditions under which a reasonable green policy by a US state encourages the early replacement of existing coal plants with new natural gas plants.
Study highlights dwindling role of weather in market
Are Trump's efforts to support US coal levelling the playing field for fuel sources, or flogging a dead horse?
Carbon trading outweighed by building and fuel cost, research finds
Expectations grow that a long-awaited Asian gas derivatives market is emerging
Shale’s ability to step up production rapidly is being relied upon to shore-up under-supply
Energy Risk Awards 2018: Reliability is key to BP’s ability to deliver across global gas markets, even in difficult conditions
Hedging instruments fair values rise while oil prices surge
Regional market correlations in flux amid structural change
Long periods of losses make strategy impractical, says energy consultant
This paper introduces a three-factor model that jointly describes both natural gas forward prices and temperature forecast dynamics.
A lack of willing price reporters is eroding confidence in key benchmarks
US energy market watchdog is “serious” about its surveillance role