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Crack sreaad hedging oil refinery

Optimal Crack Spread Hedging

The traditional approach to hedging the crude oil refining margin (crack spread) adopts a fixed 3:2:1 ratio between the futures positions of crude oil, gasoline, and heating oil. The latest research indicates that this might not be the optimal approach

Price formation in electricity markets

Electricity markets present a unique set of modelling, forecasting, analytical and trading challenges. Understanding how the spot and forward markets interact, what drives each and how they're co-dependent is crucial in understanding the origination of electricity prices.
Financial Times image of market data

Difference between Futures and Forwards

Covering the basics of Futures and Forwards along with a little on how they are traded and priced