Evolution of Commodity Futures after the 1970s Oil Shocks (1973-1995)

1. Financial futures expand hedging beyond crops

   May 16, 1972Labels: International Monetary, Currency futures

   • IMM
   • WSJ

2. Oil embargo jolts price risk in commodities

   Oct 1, 1973Labels: 1973 oil, Oil supply

   • Britannica
   • CFTC History

3. U.S. creates the CFTC to regulate futures

   Oct 23, 1974Labels: Commodity Futures, CFTC Act

   • CFTC History
   • Wikipedia

4. CFTC begins operating and takes jurisdiction

   Apr 21, 1975Labels: CFTC, Commodity Exchange

   • CFTC History

5. Strategic Petroleum Reserve policy set in law

   Dec 22, 1975Labels: Energy Policy, Strategic Petroleum

   • EPCA

6. Treasury bond futures begin at the CBOT

   Aug 22, 1977Labels: Chicago Board, Treasury bond

   • CME Anniversaries
   • WashPost

7. NYMEX energy complex starts with heating oil

   Jan 1, 1978Labels: NYMEX, Heating oil

   • OGJ
   • CME Timeline

8. International Petroleum Exchange is founded in London

   Jan 1, 1980Labels: International Petroleum, IPE

   • ICE Futures

9. NYMEX lists leaded gasoline futures

   Oct 5, 1981Labels: NYMEX, Leaded gasoline

   • WashPost
   • CME Timeline

10. WTI crude oil futures launch at NYMEX

    Mar 30, 1983Labels: NYMEX, WTI crude

    • EIA NYMEX
    • CME Timeline

11. NYMEX adds unleaded gasoline futures

    Dec 3, 1984Labels: NYMEX, Unleaded gasoline

    • UPI
    • CME Timeline

12. Brent crude futures debut at the IPE

    Jun 1, 1988Labels: IPE, Brent crude

    • ICE Futures
    • Mondo Visione

13. Brent options start trading, deepening hedges

    May 11, 1989Labels: IPE, Brent options

    • UPI

14. NYMEX launches natural gas futures at Henry Hub

    Apr 4, 1990Labels: NYMEX, Henry Hub

    • CME Timeline
    • OGJ

15. CME Globex launches, enabling electronic futures trading

    Jun 25, 1992Labels: CME Globex, Electronic trading

    • CME Anniversaries
    • UPI

16. SPR filling pauses, marking a policy transition

    Oct 1, 1995Labels: Strategic Petroleum, SPR pause

    • EPCA