Course description
Module 1
ICE Education and partners have combined their expertise to provide an innovative and practical programme covering all aspects of the physical crude oil, products and traded derivatives market through our market leading Oil Trader Academy.
With the global oil markets being subject to extreme volatility and change due to a series of geopolitical events, this is the ideal time and opportunity to understand the drivers of oil price movements and tools at your disposal to protect against and trade around your organisations market position.
Upcoming start dates
Suitability - Who should attend?
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.
Training Course Content
Day 1 Fundamentals of the Oil Industry
- Demand in the oil industry
- Demand drivers
- Changes and developments
- Supply in the oil market
- Natural resources Unconventional supply
- Shale revolution
- Oil refining
- Necessary link in the industry
- Types of refineries
- Economic challenges
- A word on opec
Day 2 Overview of Trading
- Contract types
- Spot / Term / Forwards / Futures
- FOB vs CIF
- Trading crude oil
- Choices in the industry
- Who we are defines how we trade
- Risk in oil trading
- Contracts to manage risk
- Clauses and their value
- Benchmarks & pricing
- Contango and backwardation
- The value of the differential
- The OSP and the risk in trading
Day 3 Shipping
- Overview of the shipping industry
- Vessel sizes and trading choices
- Vessel acceptability
- Costs and ownership
- Charterparty types
- Spot / Single Voyage
- Term charter
- Worldscale and freight calculations
Day 4 Crude Oil Pricing and Moving Oil from A to B
- The Brent complex
- Brent price relationships
- Managing price risk in crude trading
- Understanding exposure
- Using futures
- Swaps (CFDs)
- Making a price in crude oil trading
Day 5 Products Trading
- Differences between crude and products trading
- Refining as a source of products
- Quality issues in products markets
- Price creation in product markets
- Trading the arbitrage
- Locational value
- Understanding import and export parity
- Making prices in products markets
- Crack values
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Intercontinental Exchange - Open Courses in Commodities and Financial Markets
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