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INTRODUCTION

INTRODUCTION Applied Mathematical Finance, Vol. 15, Nos. 5–6, 403–404, October–December 2008 HELYETTE GEMAN Birbeck, University of London, UK; ESSEC Business School, Cergy-Pontoise, France Lately there has been a gigantic interest in commodities worldwide – energy in particular – as evidenced by the number of press editorials and analysts’ forecasts that are being published on the subject. Commodity prices have been experiencing an unprecedented rise in the last few years and despite the recent collapse, there is little evidence at the date of writing (November 2008) that we may revert to the levels prevailing in the early 2000s. Uranium prices went from $7 per pound in 2003 to $90, then $100 in early 2008, with 442 nuclear reactors in the world needing 180 million pounds of uranium, a number that is much larger than the current production. The LNG (Liquid Natural Gas) market has become quite active; Korean shipyards are delivering new carriers with increased capacity and, interestingly, some of the LNG tankers are starting to be used as floating storage, exhibiting a valuable optionality. Demand for metals, energy and cereals from Brazil and Russia, two of the fastest- growing economies, has undoubtedly increased the volatility across all commodity classes, together http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Applied Mathematical Finance Taylor & Francis

INTRODUCTION

Applied Mathematical Finance , Volume 15 (5-6): 2 – Dec 1, 2008
2 pages

INTRODUCTION

Abstract

Applied Mathematical Finance, Vol. 15, Nos. 5–6, 403–404, October–December 2008 HELYETTE GEMAN Birbeck, University of London, UK; ESSEC Business School, Cergy-Pontoise, France Lately there has been a gigantic interest in commodities worldwide – energy in particular – as evidenced by the number of press editorials and analysts’ forecasts that are being published on the subject. Commodity prices have been experiencing an unprecedented rise in the last few...
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Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1466-4313
eISSN
1350-486X
DOI
10.1080/13504860802379884
Publisher site
See Article on Publisher Site

Abstract

Applied Mathematical Finance, Vol. 15, Nos. 5–6, 403–404, October–December 2008 HELYETTE GEMAN Birbeck, University of London, UK; ESSEC Business School, Cergy-Pontoise, France Lately there has been a gigantic interest in commodities worldwide – energy in particular – as evidenced by the number of press editorials and analysts’ forecasts that are being published on the subject. Commodity prices have been experiencing an unprecedented rise in the last few years and despite the recent collapse, there is little evidence at the date of writing (November 2008) that we may revert to the levels prevailing in the early 2000s. Uranium prices went from $7 per pound in 2003 to $90, then $100 in early 2008, with 442 nuclear reactors in the world needing 180 million pounds of uranium, a number that is much larger than the current production. The LNG (Liquid Natural Gas) market has become quite active; Korean shipyards are delivering new carriers with increased capacity and, interestingly, some of the LNG tankers are starting to be used as floating storage, exhibiting a valuable optionality. Demand for metals, energy and cereals from Brazil and Russia, two of the fastest- growing economies, has undoubtedly increased the volatility across all commodity classes, together

Journal

Applied Mathematical FinanceTaylor & Francis

Published: Dec 1, 2008

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