| Price | £2,750.00 + VAT |
|---|---|
| Duration | 4 days |
| Location | Virtual - EMEA/Asian Time Zone |
| Available Dates |
A course that blends concepts and examples of market fundamental supply and demand with the central elements of the traded physical oil market is designed to appeal to those new to oil trading, refiners, economists, analysts portfolio managers, risk managers, operations managers, brokers and other related front, middle and back office staff.
Module 1: Physical Crude & Products Trading (Break day on Wednesday)
Live Trainer Led Virtual Sessions
Part One: How to analyse the Oil markets
- Supply and Demand Drivers
- The crude oil supply and value chain
- Building a market view
Break
- Identifying key sources of information
- Putting your analysis toolkit together
- Adding the technical perspective
Part Two: Introduction to Oil Markets and Trading
- What is trading?
- Contracts and Clauses
- Spot and term contracts
- Incoterms and transfer of risk
- Quantity and Quality: key elements and trading tools
- Timing: delivery dates and contract performance
Break
- Payment and Credit terms: when and how you get paid
- Legal clauses: jurisdiction and applicable law
- Prices: fixed and floating prices
- Prices and Pricing
- Reference prices for crude and products
- Market structure and prices: contango and backwardation
- Timing of the Price Formula: choosing dates
- OSPs and the Market
Part Three: Shipping
- Basics of oil tankers and operations
- Choosing vessels: acceptability and vetting
- Hiring vessels: markets and terms
Break
- Charterparties: spot and term
- Key clauses: laytime, demurrage, options
- Freight rates: lump sum, dollar per tonne, Worldscale
Part Four: Prices, Risk and Hedging
- Understanding Price Exposure: Long and Short
- Hedging: basics of protecting a position
- Derivatives: Futures, Swaps and Options
Break
- Brent Complex: CFDs, DFLs, BFOET and the rest
- Products prices: outrights, cracks and spreads
- Arbitrage: risks and strategies.