While it's only been a few weeks since we published our initial, monthly energy hedging update, it's time for another update. As of today we are going to begin publishing monthly updates on the first of each month, or as close to the first of the month as possible, to better reflect month-over-month changes.
That being said, the following are the indicative, one year, forward strip prices as of the close of business Friday (September 2012 - August 2013, for all but natural gas, which is for October 2012 - September 2013) as well as the respective changes since the previous update, which was published on August 8, 2012.
Current Previous Change ($) Change (%)
NYMEX Crude Oil ($/BBL) 97.59 95.02 2.57 2.70%
ICE Brent Crude Oil ($/BBL) 111.67 107.91 3.76 3.48%
NYMEX Heating Oil ($/Gal) 3.1255 2.9983 0.1272 4.24%
NYMEX RBOB Gasoline ($/Gal) 2.8626 2.7542 0.1084 3.94%
ICE Gasoil ($/MT) 968.51 930.33 38.18 4.10%
Gulf Coast ULSD ($/Gal) 3.1205 3.0027 0.1178 3.92%
Gulf Coast 6 Oil 3% ($/BBL) 99.43 96.17 3.26 3.39%
Rotterdam 3.5% Fuel Oil ($/MT) 633.21 616.38 16.83 2.73%
Singapore Fuel Oil 180 CST ($/MT) 668.21 649.84 18.37 2.83%
Gulf Coast Jet Fuel ($/Gal) 3.1420 3.0270 0.1150 3.80%
Singapore Jet Fuel ($/BBL) 129.67 124.75 4.92 3.94%
ARA Jet Fuel ($/MT) 1052.56 1021.64 30.92 3.03%
NYMEX Natural Gas ($/MMBtu) 3.310 3.418 -0.108 -3.16%
It should be noted that the strip prices are "rolling" such that the previous update included one year (twelve month) strips beginning with August 2012 and ending with July 2012, for all but natural gas, which started with September 2012 and ended with August 2013. In addition, all of the prices, expect NYMEX natural gas, are for "calendar swaps" rather than futures as the majority of consumers and producers hedging crude oil and refined products hedge with calendar swaps, not futures. This update also includes ARA jet fuel swaps. ARA is the primary fuel trading "hub" in Northwest Europe, more specifically, Amsterdam, Rotterdam and Antwerp.
If there is a topic or question you would like us to address in a future post, please feel free to let us know in the comment section below or via this anonymous form.
Last but not least, if you haven't already registered for one of our upcoming fuel hedging and risk management seminars, register today and ensure that you receive the early bird price, $300 off the general admission price.
Fuel Hedging & Risk Management Seminar | October 10-11 | Frankfurt
Fuel Hedging & Risk Management Seminar | October 23-34 | Singapore
Posted By: DAVID JOHNSON
Wednesday, September 12th 2012 at 1:19AM
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