Crude oil and agricultural futures: An analysis of correlation dynamics

Correlations between oil and agricultural commodities have varied over previous decades, impacted by renewable fuels policy and turbulent economic conditions. We estimate smooth transition conditional correlation models for 12 agricultural commodities and WTI crude oil. While a structural change in correlations occurred concurrently with the introduction of biofuel policy, oil and food price levels are also key influences. High correlation between biofuel feedstocks and oil is more likely to occur when food and oil price levels are high. Correlation with oil returns is strong for biofuel feedstocks, unlike with other agricultural futures, suggesting limited contagion from energy to food markets.

Effect of crude oil and some petroleum products on Clarias Gariepinus fingerlings (Catfish: Claridae)

Ninety (90) hatchery bred fingerlings of Clarias gariepinus (mean weight: 0.96 ± 0.1g) were randomly placed in 15 plastic baths (25 litres each) at the Research laboratory and were exposed to different concentrations of oil products to determine their effects on the fish, to facilitate inferential deductions that will enhance effective aquatic environmental management. Three (3) replicate basins of 5 experimental treatments (crude oil, petrol oil, kerosene oil, engine oil and control) were used at a concentration of 1.25ml. L-1. The control experiment was devoid of oil treatment. Six (6) fingerlings were placed in each replicate basin, flooded with 20 litres of clean tap water and fed with nutrafin cichilid food, 2 times daily at 3% body weight. The results showed that the feeding behaviour and swimming performances of fish were reduced after 24 hours of the addition of the various oil pollutants. Mortality of fingerlings in the oiled basins increased as the hours of exposure increased (i.e. 24, 48, 72 and 96 hours). Recovery was not immediate in the treated basin while surviving fingerlings in the control basins grew up to post-fingerlings after 90 days (3 months). There were significant differences (P<0.01 and P<0.05) in the effect of crude oil and the petroleum products on the mortality rate of C. gariepinus when exposed to oil pollutants at 1.25ml. L-1 concentration

Aspects of mineral composition of male and female Heterobranchus bidorsalis adults exposed to different concentrations of Bonny-light crude oil

Studies were carried out to assess some macro and trace elements of mineral composition of the male and female Heterobranchus bidorsalis adults exposed to graded concentrations (1.00-8.00m/L-1) of Bonny-light crude oil (BLCO). The experiment was monitored for 4 days (toxicity) and 42days (recovery) periods. Significant decreases (P < 0.05)in the sodium (Na), potassium (K), magnesium (Mg), calcium (Ca), phosphorus (P), zinc (Zn), iron (Fe), vanadium (Va), lead (Pb) and manganese (Mn) contents of the male H. bidorsalis corresponded with the increasing concentrations of BLCO. In contrast, the female fishes recorded significant increases (P < 0.05) in the values of the above elements in their tissues as the concentrations of BLCO increased. Furthermore, the values of Na, K, Mg, Ca, P, Zn, Fe, Va, Pb and Mn recorded in the male fishes where generally lower than those of their female counterparts and the control fish. Increased values of these elements were also recorded during the recovery periods (days 14, 28 and 42) of this study in the magnitudes of 15% at day 14, 20% at day 28 and 20% at day 42. This implied that the removal of crude oil stress during this period improved the quantity of these minerals deposited in the fish tissues. The highest percent proportion of Zn and the lowest proportion of Pb recorded in both male and female H. bidorsalis adults agreed with the report of other workers for other fish species. KEYWORDS: Heterobranchus bidorsalis, Mineral composition, Bonny-light crude oil, Toxicity, Recovery.

Effects of natural gas pipeline condensate and crude oil spills, and comments on remediation, with emphasis on south Louisiana salt marshes: a review

This report reviews some of the natural ecological processes at work within a salt marsh as they relate to a spill of natural gas condensate - a mixture of aliphatic hydrocarbons, n-hexane, benzene, toluene, and xylene. It also reviews the environmental impacts of some of the components of natural gas condensate as well as related compounds (crude oil, higher molecular weight hydrocarbons, polycyclic aromatic hydrocarons - PAHs, linear alkyl-benzenes - LABs, etc.) on salt marsh ecosystems in southern Louisiana and elsewhere in the world. The behavior and persistence of these compounds once they have entered the environment is also considered.

Isolating and recognizing crudeoiklegrading [sic] bacteria of Queshm Island shores for biodegradation of crude oil pollutions

This research was carried out for recognizing Natural Flora Bacteria of oil pollution in the coasts of Queshm island. In The First steps, The coasts of this Island were scrutinized as a Field of research and For knowing whether oil stains exist or not. It gets obvious That southern coasts of Queshm have got oil pollution which is created by oil tankers which carry oil of Iran continental shelf. Them oil stains were sampled from to certain stations. In The First step, primary isolation of exisiting bacteria in every oil sample was done and then purification of each bacterium was carried out. Then each purified bacterium that has got strong, recognized, typic growth was enriched oil sample of T5 station. And Bacterium C4 (gram—negative coccobacillus) was chosen as the second priority From oil sample of TA station and Bacterium B1 (gram—positive coccus) was chosen as The third priority From oil sample of TI station. All The above mentioned bacteria were biochemically, physiologically and morphologically experimented For specking The species. According To The tests done and comparing with The tests done and comparing with the reference Berge y' s, bacterium A5 Pelongs to the species pseudomonas sp and becterium C4 belongs to the species Aeromonas sp and bacterium BI belongs to The species micrococcus sp. In The Last stage, bacterium with The First priority (TA5 pseudomonas sp) was used in the planned microcosm. The sake of optimum and adapting to Laboratory conditions Each enriched and purified bacterium was given a code for station and a code For itself . Then This bacterium was studied and it was proved that it has potentiality For using oil as a source of carbon. From oil samples of 10 stations, 30 various Colonies of bacterium were Isolated, of which 20 bacteria had the highest potentiality of growth. And the other bacteria that has no typic growth were omitted From being studied. Since all of These 20 bacterium are able to use oil, a bacterium with maximum rate of growth in the presence of crude oil and Lack of other hydrocarbonic sources and with The code A5 ( gram — negative Bacillus ) was chosen as First priority From The mentioned microcosm contains sea water , suspension oil degrading bacterium , crude oil, azote and various concentrations of carbon and Incubated in 30°` and shook 150 PRA1 According to the results , index oil degrading bacterium (pseudomonas sp) belongs oil sample of T5 stations (east of sheeb draz Gulf) which growth best and have the potentiality of degrading oil in 25 glli malas and 50 glli cheese water and with 5 gill urea .

Use Of Micro-Stereology And Quantitative Cyto-Chemistry To Determine The Effects Of Crude Oil-Derived Aromatic-Hydrocarbons On Lysosomal Structure And Function In A Marine Bivalve Mollusk Mytilus-Edulis

The marine bivalve mollusc,Mytilus edulis (blue mussel), is a noted accumulator of many environmental pollutants and is increasingly used for the chemical and biological assessment of environmental impact. The toxic effects of crude oil-derived aromatic hydrocarbons (30 μg/l total hydrocarbons) on the lysosomal-vacuolar system of the digestive cells have been investigated in cryostat sections of hexane-frozen digestive glands. Exposure to aromatic hydrocarbons reduced the cytochemically determined latency of lysosomal β-N-acetylhexosaminidase; lysosomal volume density and surface density increased while the numerical density decreased. Experimental exposure resulted in the formation of very large lysosomes which are believed to be largely autophagic in function and these results indicate a significant structural and functional disturbance of digestive cell lysosomes in response to hydrocarbons.

Removal of naphthenic acids from crude oil using amino acid ionic liquids

A number of tetraalkylammonium and tetraalkylphosphonium amino acid based ionic liquids (AAILs) have been successfully used and recycled for the reactive extraction of naphthenic acids from crude oil and crude oil distillates. Spectral studies show that the mechanism by which this occurs is through the formation of a zwitterionic complex. Therein, the amino acid anion plays a key role in the formation of this complex. (C) 2013 Elsevier Ltd. All rights reserved.

An analysis of implied volatility jump dynamics: Novel functional data representation in crude oil markets

The predominant fear in capital markets is that of a price spike. Commodity markets differ in that there is a fear of both upward and down jumps, this results in implied volatility curves displaying distinct shapes when compared to equity markets. The use of a novel functional data analysis (FDA) approach, provides a framework to produce and interpret functional objects that characterise the underlying dynamics of oil future options. We use the FDA framework to examine implied volatility, jump risk, and pricing dynamics within crude oil markets. Examining a WTI crude oil sample for the 2007–2013 period, which includes the global financial crisis and the Arab Spring, strong evidence is found of converse jump dynamics during periods of demand and supply side weakness. This is used as a basis for an FDA-derived Merton (1976) jump diffusion optimised delta hedging strategy, which exhibits superior portfolio management results over traditional methods.

Naphthenic acid extraction and speciation from Doba crude oil using carbonate-based ionic liquids

A number of tetraalkylammonium methylcarbonate and hydrogencarbonate based ionic liquids are shown to be capable of reacting with the naphthenic acids contained in Doba crude oil via a neutralisation reaction. Spectral studies show that the ionic liquids neutralisation mechanism involves the formation of an ionic liquid-naphthenate complex, liberating methanol and carbon dioxide. Extraction of the neutralised complex into a separate methanol phase and subsequent regeneration using aqueous carbonic acid results in ∼70% of the ionic liquid being recovered for recycle. Isolation of the naphthenic acids shows that these make up to 0.85 wt% of the crude oil. Speciation of the naphthenic acids shows a mixture of monocyclic, through to tetracyclic structures with carbon numbers in the range C₁₂-C₄₀.

Using artificial neural networks to generate trading signals for crude oil, copper and gold futures

In this thesis, a feed-forward, back-propagating Artificial Neural Network using the gradient descent algorithm is developed to forecast the directional movement of daily returns for WTI, gold and copper futures. Out-of-sample back-test results vary, with some predictive abilities for copper futures but none for either WTI or gold. The best statistically significant hit rate achieved was 57% for copper with an absolute return Sharpe Ratio of 1.25 and a benchmarked Information Ratio of 2.11.