The financial health of an oil refinery greatly depends on its refining margin or the difference
between the prices of its refined products (typically, gasoline and heating oil) and the cost of …

In this study, we estimate the minimum variance (MV) and quantile hedge ratios for three
energy-related commodities: crude oil, heating oil and natural gas. For crude oil and heating …

This paper discusses the spark spread risk management using electricity and natural gas
futures. We focus on three European markets in which the natural gas share in the fuel mix …

We study the intensity of joint hedging of oil and gas prices by US petroleum firms. We aim to
explain the rationale for and find the determinants of joint hedging, as well as its impact on …

The emergence of energy commodity exchange-traded fund (ETFs) has provided an
alternative vehicle for both energy commodity users (long hedgers) and producers (short …

The strength and the pattern of linkages between output and input futures prices are of
particular importance for risk management in the energy sector. This paper investigates the …

This paper examines the predictability of the changes in Brent oil futures prices using a
multilayer perceptron artificial neural network that exploits the information contained in the …

The paper analyzes the effectiveness of joint-versus single-commodity hedging for inputs
and outputs of the cattle feeding cycle using the second-order lower partial moment (LPM2) …

Hedging decisions in the real world often contradict the literature. We reverse-engineer the
optimal hedging problem by identifying patterns of price behavior that warrant using …

Zusammenfassung Der Beitrag analysiert verschiedene Hedgingstrategien hinsichtlich ihres
Potentials zur Preisrisikoreduzierung im Ackerbau. Die Risikoreduzierung wird auf …