Oil and Gas Futures and Options Market

Abstract

Energy mineral resource markets are represented by complex supply and demand ratios which are depending on diff erent factors such as technical (transport) and geopolitical. The main characteristicof 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 specifi c market trade, represent a unique global market with a decreasing price diff erence. Price diff erences 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 liquefi ed 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 signifi cant price diff erences 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.

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