ESCP Europe

Energy companies are increasingly exposed to price fluctuations in the volatile energy markets since the turn of the new century. Energy prices are affect by numerous factors such as geographical and political environments, developments in legal systems, OPEC decisions, speculative investment in the market as well as demand and supply. Energy Markets: Price Risk Management and Trading is the practitioners guide to trading the markets and optimizing company performance using the correct price risk strategies and tools. This book will also help you put in place the strategy, management controls and reporting structures necessary to ensure that trading or hedging programs achieves its goals and does not add unexpected or unwanted risks to your firm. As a direct trader in these markets or as an investor in hedge funds in the energy sector, this comprehensive book will give you an insight to the financial energy markets and their operation. Inspired by the success of the courses run by Professor Tom James in global energy and commodities trading and price risk management, this book includes a wealth of practical knowledge applied to the market place. It is required reading for anyone involved in managing risk in the volatile yet opportunistic energy markets. from book jacket.

1. Risk management in energy markets --- 2. The energy derivatives market --- 3. Energy futures contracts --- 4. Pricing Middle East crude in the next century --- 5. Emissions trading - towards a global carbon market --- 6. Options trading and hedging application strategies --- 7. Energy option-pricing models --- 8. Value at risk and stress testing --- 9. Questions to ask when establishing a risk-management or trading program --- 10. Management controls --- 11. Derivatives controls & usage statement and control infrastructure --- 12. OTC derivatives legal documentation --- 13. Energy-market hedging scenarios --- 14. Key technical analysis for energy futures markets --- 15. Operational risk and its management --- 16. A practical guide to credit control and risk-mitigation methods --- 17. Accounting for energy derivatives trades.