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This video is part of our online course: Oil & Gas Markets, Trading & Economic Framework
This training course is designed to provide you with a complete understanding of the physical and financial markets for crude oil and petroleum products.
It is geared towards all personnel in the petroleum or associated industries needing to improve their knowledge and understanding of crude oil and petroleum products trading and pricing mechanisms.
The course uses up-to-date global statistics and is organized into 3 parts:
PART 1: CRUDE & PETROLEUM PRODUCTS PHYSICAL TRADING
What is the value of a crude oil?
Different types of contracts:
- Long term
- Spot
- Forward
Main oil markets and their features
Key benchmark crudes
The role of the Price Reporting Agencies (PRAs)
Links between Trading and Shipping
Products trading
Main provisions of a sale/purchase contract
PART 2: EXCHANGES & FUTURES TRADING
The concept of volatility
Definition of contract for crude oil and petroleum products
Exchanges and their organization:
- NYMEX
- ICE
Main Futures Markets
Hedging principles
Hedging imperfections and associated risks
Market structure:
- Contango
- Backwardation
PART 3: DERIVATIVES
Options: principles, basics and characteristics
Interests and limits of options
Swaps: principles, basics and characteristics
Interests and limits of swaps
WR Training
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