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Physical Crude Oil & Product Trading

ICE Education
Course summary
3 days
1,995 GBP excl. VAT
Online courses
Next available date: Enquire for more information - Online courses
Professional Training

Course description

Phsyical Crude Oil and Product Trading

ICE Education Live and partners have combined their expertise to provide an innovative and practical virtual program 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.

Suitability - Who should attend?

This programme will appeal to: oil and product traders, refiners, economists, analysts portfolio managers, risk managers, operations managers, brokers and other related front, middle and back office staff.

Training Course Content

Part One: Introduction to Oil Markets and Trading

  • Technology check to ensure all technology is working and that all participants have the required accesss
  • Session 1
    • Supply and Demand
    • Production and Refining
  • Session 2
    • Contracts and Clauses
    • Spot and term contracts
    • Incoterms and transfer of risk
  • Session 3
    • Quantity and Quality: key elements and trading tools
    • Timing: delivery dates and contract performance
  • Session 4
    • Payment and Credit terms: when and how you get paid
    • Legal clauses: jurisdiction and applicable law
    • Prices: fixed and floating prices
  • Session 5
    • Prices and Pricing
    • Reference prices for crude and products
  • Session 6
    • Market structure and prices: contango and backwardation
    • Timing of the Price Formula: choosing dates
    • OSPs and the Market

Part Two: Shipping

  • Technology check to ensure all technology is working and that all participants have the required accesss
  • Session 1
    • Basics of oil tankers and operations
  • Session 2
    • Choosing vessels: acceptability and vetting
  • Session 3
    • Hiring vessels: markets and terms
  • Session 4
    • Charterparties: spot and term
  • Session 5
    • Key clauses: laytime, demurrage, options
  • Session 6
    • Freight rates: lump sum, dollar per tonne, Worldscale

Part Three: Prices, Risk and Hedging

  • Technology check to ensure all technology is working and that all participants have the required accesss
  • Session 1
    • Understanding Price Exposure: Long and Short
  • Session 2
    • Hedging: basics of protecting a position
  • Session 3
    • Derivatives: Futures, Swaps and Options
  • Session 4
    • Brent Complex: CFDs, DFLs, BFOET and the rest
  • Session 5
    • Products prices: outrights, cracks and spreads
  • Session 6
    • Arbitrage: risks and strategies.

About provider

Intercontinental Exchange - Open Courses in Commodities and Financial Markets

Intercontinental Exchange's diverse markets span futures and options on interest rates, commodities, indexes and FX, as well as equities and equity options. These markets are relied upon by international market participants, along with our post-trade infrastructure. ICE is uniquely positioned...

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Contact info

ICE Education

5th Floor, Milton Gate, Chiswell Street
EC1Y 4SA London

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