Naslov
Oil and Gas Futures and Options Market

Autori
Nosić, Ante ; Karasalihović Sedlar, Daria ; Jukić, Lucija

Izvornik
Rudarsko-geološko-naftni zbornik (0353-4529) 32 (2017), 4; 45-54

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, pregledni rad, znanstveni

Ključne riječi
Futures contract, options, market risks, oil market, gas market

Sažetak
Energy mineral resource markets are represented by complex supply and demand ratios which are depending on different factors such as technical (transport) and geopolitical. The main characteristic of energy markets is represented by an uneven geographic distribution of hydrocarbon reserves and production on one hand, and energy consumption on the other. World oil markets, although geographically localized, because of specific market trade, represent a unique global market with a decreasing price difference. Price differences are the result of the development of transport possibilities of oil supply. The development of transport routes of natural gas and an increasing number of liquefied natural gas terminals in the world give pressure to the natural gas market and its integration into the global gas market. The integration of regional gas markets into a common European gas market is the main energy policy of EU concerning natural gas. On the other hand, there are still significant price differences on some markets (e.g. United States of America - South East Asia). The development of global energy markets is enabled by the development of futures and options contracts of an energy trade which have replaced bilateral contract deals between producers and consumers. Futures contracts are standardized contracts traded on exchanges. A buyer agrees to buy a certain quantity of stock for an agreed upon price and with some future delivery date. An option is a contract which gives a buyer the option of the right to buy (or sell, depending on the option) an asset at a predetermined price and at a later date. A stock’s price risk can be managed with the purchase and selling futures and options contracts. This paper deals with futures and options energy markets and their market strategies.

Izvorni jezik
Engleski

Znanstvena područja
Rudarstvo, nafta i geološko inženjerstvo

Napomena
Glavni autori: Ante Nosić, Daria Karasalihović Sedlar

POVEZANOST RADA