Markets & Finance

Working Papers

Views not necessarily those of the U. S. Energy Information Administration. Staff papers presented here are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurence by the U. S. Energy Information Administration. References in publications (other than acknowledgment) should be cleared with the author(s) to protect the tentative character of these papers.

Working Papers

Implications of changing correlations between WTI and other commodities, asset classes, and implied volatility

Release date: October 2012; author:  James Preciado

Contango in Cushing? Evidence on Financial-Physical Interactions in the U.S. Crude Oil Market

Executive Summary

Release date: March 2012; authors:  Louis H. Ederington, Chitru S. Fernando, Kateryna Holland, and Thomas K. Lee

Factors Influencing Oil Prices: A Survey of the Current State of Knowledge in the Context of the 2007-08 Oil Price Volatility

Release date: August 30, 2011; authors: Louis Ederington, Chitru Fernando, Thomas K. Lee, Scott Linn and Anthony May

The Mechanics of the Derivatives Markets: What They Are and How they Function

Release date: April 2011; author: International Energy Agency special update

Derivatives and Risk Management in the Petroleum, Natural Gas, and Electricity Industries

In February 2002 the Secretary of Energy directed the Energy Information Administration (EIA) to prepare a report on the nature and use of derivative contracts in the petroleum, natural gas, and electricity industries. Derivatives are contracts ('financial instruments') that are used to manage risk, especially price risk.

Release date: October 2002