Setting the stage for 2008

As 2007 draws to a close, the Energy Risk team asked market participants what they regard as the most influential events of 2007 and how these are likely to shape market behaviour in 2008. By Stella Farrington with additional reporting by David Watkins

In an informal poll of energy market participants carried out by Energy Risk, most respondents identified the rising oil price as being the most influential and defining event for energy markets in 2007. The second biggest influence was deemed to be the spread of carbon trading, and the third key trend picked out was the continued influx of banks and other financial participants into the energy space. The topic of credit in the wake of the subprime crisis was also mentioned as an issue likely to