40 Classic Crude Oil Trades

Real-Life Examples of Innovative Trading

Owain Johnson

• Publisher: Routledge
• Year: 2022
• ISBN:
  9781000539455
• Edition: 1
• Topic: Business
• Subtopic: Materie prime
• Index: Business

The day-to-day world of crude oil traders is not usually open to outsiders. Few non-specialists appreciate how oil traders approach the markets, what their backgrounds are and how they make money.

This book brings the oil trading world to vivid life by introducing the reader to 40 real-life trades or strategies that were carried out by named market participants. The 40 chapters cover different geographies and different crude oil markets, providing an unparalleled insight into how crude oil traders work and think. Oil trading developed in its current form in the 1980s and the chapters cover these early beginnings through to the present day. The trades have been grouped in sections that relate to the nature of each trade and its broader use as an example of a successful trading style. Sections cover approaches to arbitrage trading; the impact of geopolitics; logistics and storage plays; short-term versus longer term trading; managing new crude oil grades; trading crude oil derivatives.

The book provides plenty of inspiration for current or prospective crude oil traders or analysts. It will also be valuable for academic researchers, business school case studies, and for anyone wanting to learn more about the individuals that shape the world's most important commodity market.

Index

• Abu Dhabi National Oil Company (ADNOC) 15
• Aframax 40, 44–46, 48, 170
• AGIP Trading Services 77
• Albacora Leste crude oil 44–46
• Albanian crude oil 127–128
• algorithmic trading 187, 197
• Andersen, Thomas Løvind 2, 174
• Arcadia 130–131, 181
• Argus Media 87, 153, 240
• Asian Petroleum Price Index (APPI) 211–212
• asset-backed trader (ABT) 94, 95, 105–106
• Atlantic Trading & Marketing Inc 15

• backwardation 125, 146
• balancing refinery 164
• Bank of America Merrill Lynch (BAML) 174, 179
• Bank of Credit and Commerce International (BCCI) 74
• Basel Accords 75–76
• Basrah crude oil: refining Basrah Heavy 160
  • splitting grade into Light and Heavy 174–180
• Baule, Frédéric 22
• Bayon, Felipe 97
• BB Energy Trading Ltd 77
• BFOET see Brent
• BioUrja Trading 132
• Bird, Graham 30
• BNP Paribas 75
• Bogdanov, Vladimir 12
• Bossley, Liz 3, 84, 239
• Bouchouev, Ilia 7, 228
• BP 23, 33–38, 61, 64, 65, 89–94, 97, 105–109, 112, 133, 152–153, 157, 212
• Brent: Arcadia activity 131
  • Brent-Dubai 182–185, 214
  • Brent–Forties–Oseberg–Ekofisk–Troll (BFOET) market 23, 86
  • chains of cargoes 72
  • development of market 3, 192, 194
  • discovery of Brent field 151, 154
  • 15-Day B...