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THE OIL TRADER ACADEMY

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Online / Training
Jan 24, 2022 - Feb 04, 2022
GBP  4,795.00

Details

Brought to you by IBH & ICE Education and now to be delivered VIRTUALLY. 

We want you to continue your journey with us and make your trades with success. Our engaging and interactive Oil Trader Academy can now be accessed through our combined E-learning and provide you with the knowledge of oil trading environment.

The well-known Oil Trader Academy has become very popular among the traders and people in the industry by its strong modular structure and unique approach. This course is an opportunity to learn and develop through a blend of experience, valuable data and realistic trading simulations supported by wealthy experience of course experts.

Your 3 steps in E-Learning:

  1. Pre-course: complete primer content and simulation tutorials
  2. Live Virtual Sessions: attend trainers led LIVE video sessions with SIMULATIONS and interactive DISCUSSIONS  
  3. Post-course: revisit learning points one week post course live video clinic session
Who should attend: 
This programme will appeal to those new to crude oil trading or those working in roles linked to the markets like: refiners, economists, analysts portfolio managers, risk managers, operations managers, brokers and other related front, middle and back office staff who need to understand the core aspects of how the physical and paper oil markets link together.

Course Content
This course is split into two modules. Delegates can register for the full 8 day programme, or one of the 4 day modules. See the full course detail on each of the individual Module pages.
 

Module 1: Physical Crude & Products Trading - 24 Jan - 28 Jan 2022 (Break day on 26th)

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.

Module 2: Trading Simulation and Managing Price Risk - 31 Jan - 4 Feb 2022 (Break day on 2nd)

Practical approaches are an important element of the Academy. For example, throughout Module 2 you will have access to a fully operational trading system and undertake a series of 'trading games' to help you gain first-hand experience and knowledge of applying the physical and paper concepts common to the oil trading environment. A very interactive course ideal for those working in roles linked to : refiners, economists, analysts, portfolio managers, risk managers, operations managers, brokers and other related front, middle and back office staff.

COURSE OUTCOME:

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

Outline

Delivery Schedule Module 1:
Start Time: 08.00 GMT, 12.00 Dubai, 16.00 Singapore
End Time: 14.00 GMT, 18.00 Dubai, 22.00 Singapore 

24 Jan – Day 1
How to analyse the Oil markets 

Supply and Demand Drivers
The crude oil supply and value chain
Building a market view

Break 

Identifying key sources of information
Putting your analysis toolkit together
Adding the technical perspective

 

25 Jan – Day 2
Introduction to Oil Markets and Trading 

What is trading?
Contracts and Clauses
Spot and term contracts
Incoterms and transfer of risk 

Quantity and Quality: key elements and trading tools
       - Timing: delivery dates and contract performance 

Break 

Payment and Credit terms: when and how you get paid
      - Legal clauses: jurisdiction and applicable law
      - Prices: fixed and floating prices 

Prices and Pricing
      - Reference prices for crude and products 

Market structure and prices: contango and backwardation
      - Timing of the Price Formula: choosing dates
      - OSPs and the Market

Break day on 26th

27 Jan – Day 3
Shipping
 

Basics of oil tankers and operations
Choosing vessels: acceptability and vetting
Hiring vessels: markets and terms

Break

Charterparties: spot and term
Key clauses: laytime, demurrage, options
Freight rates: lump sum, dollar per tonne, Worldscale

 

28 Jan – Day 4
Prices, Risk and Hedging 

Understanding Price Exposure: Long and Short
Hedging: basics of protecting a position
Derivatives: Futures, Swaps and Options 

Break

Brent Complex: CFDs, DFLs, BFOET and the rest
Products prices: outrights, cracks and spreads
Arbitrage: risks and strategies.

Delivery Schedule Module 2:
Start Time: 08.00 GMT, 12.00 Dubai , 16.00 Singapore
End Time: 13.00 GMT, 17.00 Dubai, 21.00 Singapore

31 Jan - Day 1:

Derivatives
The current supply & demand situation
The difference between forwards, futures, swaps and options
How they are used in the crude oil market.
SIMULATION: Derivatives tutorial

Break

Trading Best Practice:
The various types of risk, how risk is measured and successfully managed by a trader.
SIMULATION: Brent flat price

1 Feb - Day 2:

Time Spreads:
What a forward curve is
The different types of market structure and how traders use time spreads.
SIMULATION: Brent time spreads

Break

Cargo Price Exposures:
   - How crude oil is priced, what are crude differentials and lifting programmes.
SIMULATION: Crude differential trading

Break day on 2nd

3 Feb - Day 3:

Trading Opportunities
What geographical arbitrage is
The economics that need to be considered including chartering
How to hedge the associated price risks.
SIMULATION: Global arbitrage

Break

Price Risk Management
Being aware of the price risks connected with physical crude oil trading
How to manage risks effectively
The difference between arbitrage and unwinding hedges.
SIMULATION: Hedging tutorials

4 Feb - Day 4:

Storage
Why storage is valuable
Costs associated with storage
How storage can be optimised
SIMULATION: European storage optimisation

Break

Team Dynamics
How a trader can make money from a physical crude oil portfolio
Importance of evaluating opportunities quickly, hedging appropriately
Why teamwork is important.
SIMULATION: Crude equity portfolio optimisation

Speaker/s

INSTRUCTORS 1

He traded oil and energy in Europe, Africa, the Middle East and Asia during a career that spanned eighteen years. He has worked for an oil major, a top trading company, and investment banks. He has extensive experience in supply and trading for refining systems as well as the challenges of running proprietary physical trading books in Europe, Africa, and Asia.

His experience was rounded out with several years of trading derivatives for investment banks in the Asia-Pacific region. Since leaving trading in 2008 has taught finance and trading at top French business schools, presented corporate training in commodities and energy in France and abroad, and consulted with top European companies on trading and contract arbitration. He is bilingual in French and English and resides in the South of France.

INSTRUCTORS 2

He has worked in the energy markets since 1986 when he joined Man International as a broker on the oil desk. He specialised in futures and options and qualified as a trader in the IPE option pit. He executed the first principal OTC oil deals for Man and became head of the energy desk in London. Later moved over to the OTC energy market in 1997 and worked for Koch Petroleum Group helping to develop their energy derivatives business.

INSTRUCTORS 3

He joined BP after graduating from Cambridge University. During his front-line trading career he traded product derivatives, and both paper and physical Crude Oil. Then became Head of Fuel Oil Trading for Europe and the USA. In this Book Leader role grew the book significantly in both scope and profitability over 7 years. Was also heavily involved in BP’s trader selection, training and mentoring.

INSTRUCTORS 4

He has spent 30 years of his career working in oil trading. He was regarded as an industry expert in the area of trading operations for crude oils in the North Sea and Middle East before progressing to a senior leadership position within BP’s international trading division.
As Head of Supply was directly responsible for the trading teams which were optimising the purchase and risk management of 75 million m3 p.a. of petroleum products. More recently he was the Executive Chairman of Smart Global Trading.

Special Offer

COURSE FEE        

Module 1 (4 Days)
£2,500
Module 2 (4 Days)
£2,500
Full Course – All Parts (8 Days)
£4,795


All course payments must be received one day prior to the start date

The course fee covers:

  • Participation at 8 days ICE Virtual Oil Trader Academy 
  • Live presentation and interactive discussions led by global ex-traders
  • Supported by real market computer trading simulation platform 
  • Pre-course: complete primer content and simulation tutorials
  • Post-course: revisit learning points one week post course live video clinic session
  • The Course materials in e-version
  • Industry Certificate of IBH and ICE

 

Schedules

Jan 24, 2022 - Feb 04, 2022
Mon, Tue, Wed, Thu, Fri 08:00 AM —
No. of Days: 8
Total Hours: 40
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International Business House is the trusted global provider of business intelligence through conferences and trainings to the world’s leading Oil and Gas businesses.

Nothing beats the experience of meeting people face-to-face to gain inspiration, to learn and to do business. At IBH we offer solutions and seek to help industry professionals make informed, intelligent decisions to strategically improve their position in today's challenging business environment.

International Business House
Balfour House 741 High Road, London, United Kingdom N12 0BP
+44 (0) 207 183 4507
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