Brent—Creating Exceptionalism

Colin Bryce ()

Chapter Chapter 4 in Brent Crude Oil, 2023, pp 43-58 from Springer

Abstract: Abstract The fiscal regime and liberalisation policies in the 1980s made “… the senior executives of big oil realise that there was a whole new revenue stream to be captured by speculating in oil markets”. This chapter covers the development of the whole ecosystem of players in the Brent market in rich detail. It is a wonderful record of how various players, and banks in particular, contributed to the price discovery and risk management using swaps, options and other derivative instruments from the financial markets. Eventually, one such “partials Brent” market led to the development of the first Brent oil exchange, the International Petroleum Exchange or IPE.

Keywords: Liberalisation; Speculation; Brent; Banks; IPE (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-28232-4_4

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