A partner of excellencefor oil and gas professional development

Oil Markets & Trading

3 days TRT/OMT
Level
Proficiency
Audience
  • 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
Purpose
  • To provide a better understanding of the structure of the markets, the uses and the impacts of physical and financial markets for crude oil and petroleum products
Learning Objectives
  • Upon completion of the course, participants will be able:
  • to analyze the parameters which influence prices of crude oil and petroleum products
  • to review the different oil trading markets by type of transaction
  • to understand the importance of maritime transport costs in oil supply economics
  • to comprehend the hedging techniques available for protection against fluctuations in prices
Ways and means
  • Syndicate works on case studies
  • Case studies

Oil supply and demand fundamentals 0.25 day
  • Oil vs. other energy sources
  • Demand fundamentals
  • Oil producing countries, OPEC, consuming countries, international oil companies: constraints and strategies
Crude and petroleum products physical trading 1 day
  • “What is the value of a crude oil?”: the refiner's point of view
  • Different types of contracts: Long term, spot and forward
  • Main oil markets and their features
  • Benchmark crudes. The role of reporting agencies
  • Links between trading and shipping
  • Products trading
  • Main provisions of a sale/purchase contract
Exchanges and futures trading 1 day
  • The concept of volatility
  • Definition of a contract: the cases of WTI and Brent
  • Exchanges and their organization: the cases of NYMEX and ICE
  • Main futures markets
  • Hedging principles
  • Hedging imperfections. Basis risk
  • Market structure (contango, backwardation)
  • Case study
Derivatives 0.25 day
  • Options: principles, basics and characteristics
  • Interests and limits of options
  • Swaps: principles, basics and characteristics
  • Interests and limits of swaps
Hedging strategies - Various case studies on hedging 0.5 day
  • For a refiner
  • For a producer
  • For a marketer
  • For an industrial consumer
2016 course calendar
Language Dates Location Tuition Register
May 24 - 26 Rueil €2,230 Online By email
Jun 01 - 03 Rueil €2,225 Online By email
Sep 20 - 22 Rueil €2,230 Online By email
Nov 22 - 24 Rueil €2,230 Online By email