As recently as the summer of 2008, many market commentators
still believed we were still in a commodity bull market. Yet recent
months have seen turmoil in the wider financial markets,
significant falls in prices for most commodities and much market
comment around liquidity and credit pressures.
Against this background, Deloitte Switzerland conducted a survey
on risk management in today's commodity markets, reflecting
Switzerland's position as a major world energy and commodity
trading centre. Participants from all stages of the energy and
commodity value chain took part and were predominantly, but not
exclusively, Swiss-based.
The survey took place between 22 September and 24 October 2008.
This was a period of immense financial market turbulence including
the launch of the US and European bank rescue schemes and
significant government investment in various European banks.
