International Oil Trading

4 days 10-13 Jul 2017, London UK £3,995.00 + VAT* Download brochure Add to basket
4 days 4-7 Dec 2017, London UK £3,995.00 + VAT* Download brochure Add to basket

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Overview

Learn to use trading and hedging to profit from, and protect against, oil market movements. Setting the scene for oil trading, this training course examines markets, pricing and products to provide participants with a thorough overview of the sector. This course will explore mechanisms and tools for both physical and financial oil trading allowing unparalleled access to the world of trading, its role within the oil industry and its importance in the success of oil companies.

Participants will leave this course with a thorough understanding of the workings of crude oil markets and the range of contracts, tools and techniques available to traders.

Attend this practical and interactive 4-day training course and enhance your knowledge on the following key areas:

  • Supply and demand: fundamentals and implications
  • Crude evaluation and selection
  • Physical markets, pricing & price exposure
  • An introduction to brent
  • Oil trading and jargon
  • Hedging instruments: forward & futures
  • Oil refining
  • Swaps
  • International product trade flows and transport
  • Trading: options and risk management strategies
  • Dated Brent and the 21 Day BFO market & CFD’s
  • Market reporting and price assessment
  • ICE
  • Management issues
  • Featuring: An electronic refining & trading simulation - put into practice what you have learnt from the course by competing against the other delegates in this real life electronic trading game

How this course will help you

You will:

  • Review crude oil supply, demand and products
  • Understand crude oil refining, evaluation and selection
  • Explore physical markets, shipping and contracts
  • Appreciate pricing formation and price risk management
  • Learn about futures, swaps, options and over- the-counter markets
  • Become familiar with trading techniques and terminology
  • Participate in trading & hedging exercises and improve negotiation skills

 


"Very interesting course. I loved the simulation!"
- ABN AMRO

"Very good training - all sessions were very interesting"
- Total

"Best simulation. Excellent and fun instructors"
- ABN AMRO

"Perfect presentation to get a good picture of the energy trading business"
- ABN AMRO

Who should attend

  • Traders
  • Refiners
  • Sales & marketing
  • Account managers
  • Economists
  • Analysts
  • Risk managers
  • Operations managers

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London, London
Edward Stock
Edward Stock

Edward has almost 20 years of experience in the natural gas markets and specialises in Global LNG and European natural gas markets. He has managed a number of key projects in the energy industry to identify marketing and trading strategies through detailed market analysis and his broad knowledge of commodity markets. He has successfully implemented a numbers of risk management and control projects including the implementation of associated ETRM and billing systems.

Edward has also written and presented a number of training courses, both public and in-house to the industry across Europe and Asia and spoken at conferences. He was also an Associate Director on an Energy focused MBA course where he lectured on global markets.

Venue

London

Central London Hotel (energy)

All Euromoney Energy Training courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Related Courses

Inhouse


 

Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company's exact requirements? If you'd like to do either of these, we can bring this course to your company's office. You could even save up to 50% on the cost of sending delegates to a public course.

To find out more about running this course in-house:





Our Tailored Learning Offering

If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. We'll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.



We can offer any of our public courses delivered at your office or we can devise completely tailored solutions:


Read more about our offering or complete a call back request to speak to a learning specialist.

 

Agenda

 

Day 1

General introduction

  • Administration and delegate introduction
  • Course overview

Supply and demand

  • Fundamentals and implications
  • Evolution of oil demand and supply
  • Current oil reserves and production
  • Oil supply/demand and implications for trade

Crude evaluation and selection

  • Crude classification and assay
  • Gross product worth
  • Worldscale (freight costs)
  • Net margin and crude selection

Physical markets, pricing & price exposure

  • Physical oil markets
  • Pricing mechanisms
  • Pricing exposure/keeping an exposure book

Introduction to Brent

  • Introduction to the terms
  • Role as a benchmark
  • Why Brent?

Introduction to oil trading and jargon

  • Reading the market
  • Fundamental analysis
  • Technical analysis


Day 2

Refining & trading simulation (round 1)

  • General introduction
  • Physical (wet) crude trading
  • GPW and best crude

Hedging instruments- forward & futures

  • Evolution of the market
  • Crude oil forward markets
  • Crude forward contracts
  • Spread trading
  • Review of futures contracts & terminology
  • Role of ICE/Nymex
  • Hedging example using futures
  • Basis risk and forward curve

Briefing refining & trading simulation (round 2)

Crude hedging with futures/basic risk

Hedging strategy and position management

Refinery nominations (crude type and mode of operation)

Oil refining

  • Crude supply, refineries & finished product
  • Refiners change product mix
  • Supply, demand & alternative fuels
  • Emissions & product quality
  • Refinery margins & investment

Swaps

  • Swaps terminology and principles
  • Examples of crude oil and product swaps
  • Swaps settlement and pay-out


Day 3

Refining & trading simulation (round 3)

  • Gas oil futures and mogas swaps
  • Developing a trading strategy

International product trade flows and transport

  • Differences between products & crude
  • The main product markets
  • Product price drivers
  • Product price differentials
  • Refining balance
  • Fundamentals of the various product markets
  • Power market
  • Bunker market
  • Atmospheric residue market
  • Importance of refining margins
  • Freight
  • Arbitrage & trade
  • Role of traders/blenders

Refining & trading simulation briefing (round 4)

Refining & trading simulation (round 4)

  • Margin management strategies
  • Arbitrage

Trading: options and risk management strategies

  • Options: terminology and examples
  • Options pricing
  • Risk management exercise


Day 4

Dated Brent and the 21 day

BFO market & CFD’s

  • The Brent forward contract
  • Brent lifting programme
  • Linking of the 21 day BFO & dated Brent markets
  • Contracts for difference/ Brent CFD market

Market reporting and price assessment

  • What is Platts?
  • Market needs
  • Scope of crude and product reporting
  • Price assessments and confirmation

ICE

  • Role of ICE
  • Function, organisation and regulatory structure
  • Contracts and operational procedures
  • Market uses & users
  • Exchange of physicals for futures (EFP’s)
  • Exchange of futures for swaps (EFS’s)

Simulation results

Management issues

  • Control lessons learnt
  • The major economic risks
  • Controlling risk

Course summary and close

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product