Market Strategy
Hedge program design, execution and governance.
How Tight Are U.S. Gas Inventories, Really?
Is the market already pricing in a frigid winter? How else do you explain rallying gas prices and extreme call-skew, despite weakening storage level foreca...
· Nick Hillman3 min read
China's Exports Are an Economic Bright Spot as Value Hits All-Time High
Exports have rebounded off pandemic-lows, reaching an all-time high value in August. Most recent economic data suggests that China's economy been slowing...
· Chris Stadele1 min read
As winter prices rise, next summer is being left behind. Will 2022 rally?
We expect next summer’s prices will rise in comparison to winter’s to correct the extreme price discrepancy as the market becomes focused on th...
· Matt Marshall3 min read
AEGIS Hedging Recommendations - Starting Points for Hedge Discussions
AEGIS Hedging Recommendations - Starting Points for Hedge Discussions
· Matt Marshall2 min read
South African Political Protests Could Slow Congolese Cobalt Exports
South Africa has been rocked by civil unrest after the recent imprisonment of former President Jacob Zuma. South Africa's ports are the preferred export ...
· Chris Stadele2 min read
South Africa's Iron Production Could Slow as Political Crisis Deepens
Recent deadly political protests in South Africa have disrupted supply chains throughout the country, and are becoming more widespread. The potential for...
· Chris Stadele2 min read
Why backwardation should not keep you from hedging
A “discount” for oil in the future is a typical phenomenon when oil prices are strong. Large rallies in oil prices have had an unfortunate si...
· Matt Marshall2 min read
Economic Data from China Suggest Economy and Metals Demand is Slowing
Economic data suggest that China's economy is cooling, but demand for metals has been red-hot lately. Should China's economy continue to sl...
· Chris Stadele2 min read
Potential Impact of Russian Metal Export Tariffs
Russia's efforts to build monetary reserves on the backs of metals producers could reduce global supply in an already tight market. ...
· Chris Stadele2 min read
The Lumber Shortage and Controlling Your Building Costs
AEGIS went for a walk yesterday, and we can confirm: There are still trees outside. Why is lumber pricing like there is a shortage? ...
· Matt Marshall3 min read
Canadian Pipelines Remain in Limbo
U.S. 2020 production cuts were a blessing for Canadian producers. The opportunity created for Canada is at risk of being undermined by egress...
· Matt Marshall6 min read
Canadian Producers Are at Risk of U.S. DAPL Pipeline Shutdown
Regulation and government action again threaten Canadian oil markets. This time, it's a trickle-north effect from U.S. court decisions on a fully complete pipeline.
· AEGIS Market Analytics4 min read
What is "Blocking"?
Blocking is a weather feature where High Pressure comes in over Greenland, enabling cold Arctic air to come down and sit in the Lower 48.
· AEGIS Market Analytics2 min read
AEGIS Cap/Floor Index Prescribes Hedging Structures, Simply
An easy indicator of options values describes when popular hedging structures are protecting or destroying value. So-called
· AEGIS Market Analytics3 min read
Hedging Strategy Toolkit - Bull Market
If you expect prices to rise, what hedging tactics could preserve exposure? We have assembled a list of trading tactics that could increase…
· AEGIS Market Analytics3 min read
Election-Risk Tracker: Biden vs Trump Effect on Energy Industry and Prices
Donald Trump and Joe Biden, the presumed presidential nominees, have remarkably different stances toward energy production and consumption, and the role of...
· AEGIS Market Analytics14 min read
A Vilified Hedging Tool May Now Make Sense
We hated three-way collars before hating was cool, but it's time for forgiveness. Three-way collars have really hurt some E&Ps. They offer only…
· AEGIS Market Analytics3 min read