New York Mercantile Exchange (Nymex)
Markets give backing to WTI as oil benchmark
Strong Q2 trading volumes reassert WTI's place as global pricing benchmark
Green Exchange’s London launch brings Nymex carbon products to Europe
The New York Mercantile Exchange's (Nymex) environmental products trading platform, the Green Exchange, has announced the opening of a London office, in an attempt to penetrate the European carbon space. Green Exchange International intends to list…
Experts predict wave of commodity spread ETFs
An influx of commodity-based exchange-traded funds (ETFs) could sweep the market, after Canadian investment firm Jovian Capital Corp’s ETF unit BetaPro Management launched the first ever commodity spread ETF this month, signalling the growing range of…
Talking Technicals: Nymex Gas oversold
Nymex natural gas prices are completely oversold and now is not the time to buy gas, says a market expert in Energy Risk's new show, Talking Technicals.
Iran sets out mixed energy plan 2010/2011
Iran’s national budget for 2010/2011 will be less reliant on oil revenues but will still reveal "good news" on oil production of 20% enriched fuel in February this year, says Iranian president Mahmoud Ahmadinejad, in a move aimed at making the state less…
EIA: World will be more dependent on Opec oil
The world will become more dependent on Organization of the Petroleum Exporting Countries (Opec) oil by the start of 2011, following sustained surplus production capacity and a forecasted decline in growth from countries outside the producer group, says…
Russia/Belarus crisis not expected to affect oil market in the longer term
Russia’s halt in crude oil supplies to Belarus, which is providing some support to the oil complex today (January 4), is not expected to have a big impact on the global market, say analysts.
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.
Movers & shakers
As part of our 15th Anniversary, Energy Risk rounds up 15 of the most influential and innovative companies currently active in the traded energy markets and profiles their achievements
Full marks
Michel Marks, former chairman and board member of Nymex, tells Roderick Bruce about his role in taking the exchange from small potatoes to a cross-commodity powerhouse
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
All Clear?
Despite a recent large increase in volumes, clearing for commodities remains a contentious issue, with little agreement on what the best business model should be, and insufficient standardisation, say market participants. Rachel Morison investigates
Refiners feel the squeeze
While crude oil prices have undergone a 70% decline since July, gasoline has dropped by 75%, taking the crack spread into negative territory. Eric Fishhaut of GlobalView Software looks at this unusual phenomenon
The blame game
Oil
CME Group buys Nymex and offloads metals
Exchange consolidation continued over the weekend, with CME Group buying Nymex, the New York-based metals and energy exchange, and selling its own metals business to the NYSE Euronext group.
CME Group in talks to buy Nymex
Chicago-based CME Group is in preliminary discussions aimed at acquiring the New York Mercantile Exchange (Nymex), the two firms announced on January 28.
Donohue: further exchange consolidation ahead
The global exchange industry will see yet more consolidation during 2008, believes Craig Donohue, chief executive of the CME Group in Chicago.
Range of 29 forward commodity ETFs to be listed on LSE
Twenty-nine new exchange-traded funds (ETFs) tracking the forward prices of a variety of commodities and commodity baskets are due to list on the London Stock Exchange (LSE) in the next four weeks.
Nymex to introduce new steel futures contract
The New York Mercantile Exchange (Nymex) will introduce a steel futures contract, based on an index developed by the steel industry information service World Steel Dynamics (WSD). The new contract will be available on the Nymex ClearPort electronic…
First oil futures curve ETFs listing on LSE
In the next two to three weeks, the London Stock Exchange (LSE) is expected to list the first exchange-traded funds (ETFs) exposed to parts of the oil futures curve.
OTC energy derivatives regulations to tighten
US regulators could be one step closer to achieving their aim of closing the ‘Enron loophole’ that exempts electronic energy exchanges such as the Atlanta-based Intercontinental exchange (ICE) from regulatory oversight.
Nymex considers lawsuit against Optionable
The New York Mercantile Exchange (Nymex) may take legal action against Valhalla, NY-based brokerage firm Optionable, the exchange’s chief executive officer James Newsome announced this week.
Nymex launches electronically traded options on energy and base metal contracts
The New York Mercantile Exchange (Nymex) will list options on crude oil, natural gas, gold and silver on the Chicago Mercantile Exchange’s (CME) Globex electronic trading platform, beginning on June 24 for a trade date of June 25.