Energy
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Surge in Energy Transactions

Surge in Energy TransactionsSurge in Energy Transactions

Electricity forward contracts in the derivatives market, petroleum products, and other energy carriers in the physical market saw a significant 230 percent boost during the past two weeks, reaching $96.6 million, Shana reported.

Electricity transactions maintained an upward trend, thanks to a liquidity injection from the energy ministry. Around 28000 electricity forward contracts were carried out during this period, accounting for $12.4 million.

The volume of electricity transactions saw a 155 percent jump over the past two weeks and the total value of transactions also increased by 136 percent.

Transactions of petroleum and petrochemical products in the energy bourse also hit $83.4 million in the same period.

Refinery solvents, gas condensates, isorecycle, isofeed and methanol were dealt and sold in the physical market. The supply of 70000 tons of heavy naphtha by Bandar Abbas Oil Refining Co. was one of the main reasons behind the rise in the bourse in the past two weeks.

 

Financialtribune.com