Henry Hub and national balancing point prices: what will be the international gas price reference&quest

Ahmed E1 Hachemi Mazighi

OPEC Review, 2005, vol. 29, issue 3, pages 219-230

Abstract: One of the lessons in the history of international trade in commodities is the emergence - sooner or later - of an international price reference, most commonly known as an international marker price. In the area of oil, West Texas Intermediate (WTI) plays the role of a marker for sour crudes traded in the Atlantic basin. Brent oil fulfils this function for sweet crudes traded in Europe. Another important aspect in the area of global commodities is that the emergence of a marker price is not always necessarily related to the relative share of production or exports of the commodity, but primarily to the existence of an organized market for this commodity. Copyright 2005 Organization of the Petroleum Exporting Countries.

Date: 2005
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