As energy prices rally, we can get a sense of what large speculators are doing from the CFTC’s Commitment of Traders report. But what are hedgers doing? To find out, Andy Lebow and I had a conversation with Andy Furman a risk management consultant with Risked Revenue (R-squared). Risked Revenue is an independent commodity risk advisor that helps clients build and maintain hedge programs. Their clients include S&P 500 E&P’s, private equity companies, utilities and other oil producers and consumers. Andy Furman sheds some light on issues facing hedgers and shows how some make hedging decisions.
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