Commodity Investing: From Theory to Practice · Dr MAI Huu MinhChapter 8 of 22 · Module 3: The sectors
CHAPTER 8
Energy
Oil, gas, coal and power
Opening question
“Why does the price of petrol in Hanoi move with decisions taken in Riyadh and Houston?”
In this chapter
- Why energy is the largest and most political commodity sector
- The crude oil market: producers, OPEC+, spare capacity, demand and inventories
- Benchmark crudes and the differences between grades
- Refined products and the crack spread, with a worked example
- Natural gas and LNG: three regional prices linked by ships
- Coal and electricity, and why they still matter in Asia
- Energy in the energy transition
- Three ways to invest in energy, and why their returns differ
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This chapter is in the full book
Chapter 1 is free to read online. The full text of chapter 8 — with its tables, figures, worked examples and practice lab — is available in the complete edition of Commodity Investing: From Theory to Practice (Volume 2, NXW Investment Library).
Read Chapter 1 freeGet the full book — [email protected]Sections of this chapter
8.1 Why energy is different
8.2 The crude oil market
8.3 Refined products and crack spreads
8.4 Natural gas and LNG
8.5 Coal and electricity
8.6 Geopolitics, the dollar and price shocks
8.7 Energy in the energy transition
8.8 Energy investing in practice
8.9 Energy in Vietnam