Trading

Do You Have Your CICI? Energy Traders Down to the Wire on Dodd Frank Compliance

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If you trade an energy product over the counter rather than on an exchange, you probably need to get yourself a CICI number by Wednesday (April 10). That’s the deadline the Commodity Futures Trading Commission has set up for firms that haven’t been exempted from reporting information on their “swaps” activity to the government as part of the lengthy and complex implementation of the Dodd Frank financial sector reform.

Because the government just loves a good acronym, CICI stands for “CTFC Interim Compliant Identifier” that results in an “LEI” or a “legal entity identifier” for the purposed of reporting details of energy swaps trade and counterparties. The CFTC, concerned that some would miss the deadline, issued an advisory with much more information here. Keep reading →

 /  Published April 8, 2013 at 3:00 PM

Wall Street Sells Off as Oil, Gas Prices Tumble

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The markets fell on Wednesday, led by tumbling energy and financial shares, as traders responded to signs that the economic recovery might not be as strong as anticipated.

Today’s Markets Keep reading →

 /  Published April 3, 2013 at 3:00 PM

Why the Global Oil Market is not Like a Bathtub

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It’s a commonly used analogy for the global oil market: Crude oil is fungible and supplies from
producing countries and companies enter a giant pool that is drained by a wide variety of consumers. Analysts, academics and politicians often talk of the global oil trade in this manner, saying that additional supplies of oil – regardless of where they originate – are good for US energy security because increased volumes available on the global market should exert downward price pressure. Well, perhaps unsurprisingly, it’s not that simple.

The situation is clarified in a recent journal article titled “Crude Oil Is Not Fungible, Where It Comes from Does Matter, and Global Markets Are More Fragmented Than Many Think.” The piece, written by Jonathan Chanis, a long-time commodity trader, finance expert and current Columbia University professor, appeared in American Foreign Policy Interests: The Journal of the National Committee on American Foreign Policy. Keep reading →

 /  Published April 3, 2013 at 2:30 PM

New Competitive Landscape for Solar?

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The excitement over solar power, which once attracted billions in private investment and public subsidies, has waned recently, underscoring the limitations of renewable energies and the unchallenged dominance of fossil fuels.

Some of the $75 billion sector’s high profile names have fallen on hard times recently – most notably Suntech Power. The China-based solar panel company rattled the industry when it filed for bankruptcy last week. In its heyday, the stock traded just shy of $90 and had a market capitalization of $16 billion: on Thursday, the last day U.S. markets were open, the shares traded around for 42 cents each. Keep reading →

 /  Published April 1, 2013 at 12:50 PM

Muted Market Reaction to Otherwise Bullish Natural Gas Storage Report

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The EIA’s Weekly Natural Gas Storage Report released this morning showed a net decline of 95 Bcf from the previous week – a larger withdrawal than analysts expected – which is usually a bullish market indicator, but the prompt month NYMEX natural gas futures contract had declined slightly by mid-day.

“Stocks were 642 Bcf less than last year at this time and 61 Bcf above the 5-year average of 1,720 Bcf. In the East Region, stocks were 41 Bcf below the 5-year average following net withdrawals of 73 Bcf,” according to the EIA report. Keep reading →

 /  Published March 28, 2013 at 2:00 PM

Four Reasons Why Natural Gas Could Sell Off

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Natural gas has been on fire lately. On Wednesday, it hit the highest level since September 2011, and it’s risen an incredible 113 percent since April.

So can nat gas keep running higher? Keep reading →

 /  Published March 28, 2013 at 11:30 AM

NYMEX Natural Gas Contract Setting Open Interest Records

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The CME Group announced on Tuesday the 7th consecutive open interest record for its benchmark Henry Hub Natural Gas futures contract as prices have been rising from their historic doldrums. The number of open interest contracts on Monday March 25th was 1,399,967.

Open interest refers to the total number of futures contracts that are not closed or delivered on a given day. The recent NYMEX activity appears to indicate that traders and large market participants like hedge funds expect the US natural gas futures contract value to increase over the near term. Keep reading →

 /  Published March 27, 2013 at 8:30 AM

The Rally you Probably Haven’t Heard About

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It’s the rally you probably haven’t heard about.

The price of natural gas has spiked to its highest level since 2011, advancing 17 percent year-to-date, as supplies declined for 14 consecutive weeks. Keep reading →

 /  Published March 26, 2013 at 9:00 AM

Alberta Energy Minister Hughes Discusses Options if Keystone XL not Approved, and More

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An industry source told Breaking Energy last November the two greatest challenges companies operating in Alberta’s oil sands region face are access to markets and skilled labor. Alberta Energy Minister Ken Hughes elaborated on these and other issues during a recent phone call.

In a scenario where the Keystone XL Pipeline is not approved by the Obama Administration, Minister Hughes said companies have lots of different options and that rail has become “compelling.” Although generally less efficient than transporting oil via pipeline, rail could be used to bring Canadian oil as far as the Gulf Coast and maybe the West Coast and Mid-continent as well, he said. Keep reading →

 /  Published March 25, 2013 at 3:00 PM

New Jersey Solar Market: Price Volatility

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The BGS Auction in early February triggered an increase in prices, lifting them to $130 for RY 2013 SRECs. Now a month after the close of the BGS and with the upcoming EDC Auction as the next large market event in sight, RY 2013 SREC prices have softened slightly from their six-month peak. The spot contract traded to $117.50 on March 8. Karbone anticipates that prices could potentially retreat further in the lead up to the March 19th EDC Auction, when 53,000 to 62,000 RY 2013 SRECs will be introduced to the market.

Annual Installation Potential Breakdown Keep reading →

 /  Published March 20, 2013 at 9:00 AM
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