BACKGROUND & OBJECTIVES
Oil and Gas markets have recently shown explosive growth which many believe will continue over the next few years. Less noticed has been the development of the Electricity and Carbon Emissions Derivatives Markets.
This one day course provides a coherent overview of the Trading and Derivatives available on all the major Energy products
CONTENT
ENERGY DERIVATIVES INTRODUCTION
• The Energy Markets – oil, gas. Electricity, coal and Carbon
• Energy pricing – spot and forward, contango and backwardation, seasonality.
• Types of derivative – forwards, futures, options, swaps
• Market places – Over-The-Counter and the exchanges: NYMEX, ICE, ECX, EEX
OIL MARKETS & DERIVATIVES
• The oil market and market in oil derivatives
• Crude types and grades, Marker Crudes and benchmarks,
• Refined products – The Distillates
• Cracking – the refiners margin
• Types and uses of oil derivatives.
NATURAL GAS MARKETS & DERIVATIVES
• The Natural Gas market and market for derivatives
• Types of gas – Associated, Unassociated, Wet and Dry
• Transportation and storage
• Gas hubs – real and virtual
• Gas pricing and Derivative strategies
THE COAL MARKETS
• The Coal market – The spot market
• Coal types and freight routes
• Coal Derivative
ELECTRICITY MARKETS & DERIVATIVES
• The Electricity markets and market for derivatives
• Spark and Dark Spreads
CARBON EMISSIONS TRADING & DERIVATIVES
• Carbon market history
• Emissions trading Schemes
• Trading Carbon Emissions – the over-the-counter market and exchange traded derivatives.
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United States
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