Crude Oil Hedging - Risk Books
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Crude Oil Hedging

By Energy Security Analysis, Inc.

Overview

A research report providing an assessment of hedging strategies based on actual data and research.

Publish date: 2 Nov 1998

Availability: In stock

£175.00
OR

Book description

  • Analysis of five core hedging strategies
  • Quantitative assessments of each strategy’s cost and benefits
  • Price correlations and liquidity effects on Nymex vs IPE

Book details

ISBN
9781899332311
Publish date
2 Nov 1998
Format
Report
Size
A4

Author biography

Energy Security Analysis, Inc.

Table of contents

CONTENTS

Preface

Introduction

Hedging instruments

Purposes of hedging crude oil

Volatility reduction

Hedge gain maximization and other extensions of risk management

Speculation versus hedging

Hedgemasters

Portfolios

Five hedging strategies

Pure futures strategies

Always selling 12 months forward

Selectively selling three months forward

Selling forward in backwardized markets

Pure options strategies

Using plain puts to obtain $15 insurance

Using plain puts to lock $19 budget price

Selling options

Options combination strategies

The bear spread

The straddle

The strangle

Collars

Hedging by condition: backwardized and contango markets

Hedging in bear markets

In-, out-of-, and near-the-money options

Layer upon layer

Exotic (Asian) options strategies

Insurance instruments

Three forces for pushing for insurance company involvement

Sample insurance instruments

Blending risks with insurance programs

Conclusions: insurance versus derivatives

West Texas Intermediate (WTI) market depth, liquidity, and hedging effectiveness

Market liquidity

Concepts

Measurement

Market depth

Results

Conclusions

WTI and Brent: who leads and who lags?

Results

Conclusions

Corellations and hedging effectiveness

Risk management example

A crude hedging portfolio

Conclusions

Winners and losers

Energy consumers

The last word: does basis risk render all of this moot?

Notes

Bibliography

Appendix: tables and charts summarizing the outcomes of futures and options strategies under different market conditions and expectations

Testimonials

“I would recommend this report to those considering entering or evaluating a crude oil hedging programme.“

H. Brett Humphreys, Bankers Trust

Customer Reviews

Average customer reviews for Crude Oil Hedging
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