Trading Best Practice
– Trading best practices and discipline
– Useful trading rules

Physical Products, Freight and FOB/CIF
– What are Refined Products and their main uses
– How are Products priced and traded
– Understand Worldscale and Freight rates
– How to trade Products cargoes on a FOB and CIF basis

Physical Products Trading Simulation
– Manage a portfolio of physical Products longsand shorts
– Negotiate and enter deals, book ships, manage cargo movements

Physical Crude Trading
– How Crude Oil is produced and exported
– What determines the value of different Crude Oils
– How Crude Oil is priced and traded, benchmark pricing

Physical Crude Cargoes Trading Simulation
– Buy and Sell cargoes of North Sea and West African Crude Oil
– Understand how refinery yields affect Crude differentials
– Appreciate the importance of liquidity in physical Crude markets

Introduction to Refining
– Basic Crude distillation and complex refining
– Refinery Optimisation activities
– Calculate Refinery margins and Crude pecking orders

Refining Simulation
– Manage a Refinery: Buy Crude and sell Products
– Calculate Refinery margins and adjust run rates accordingly
– Optimise your Refinery, switch Crudes as prices change

Spreads and Backwardation/Contango
– What are spreads and how are they calculated
– Why do traders use spread
– Market structure – Contango/Backwardation

Time Spreads Simulation
– Trade upto 3 different spreads on European Gas Oil
– Understand how spreads react to fundamental news

Storage Valuation and Optimisation
– Contango markets: What do “carry” and “full carry” mean
– Valuing Storage and hedging Storage trades
– Optimising Storage: Intrinsic and Extrinsic value

Storage Valuation Exercise
– Value Storage offers and bid for capacity
– Design and execute hedging strategies for your storage

Storage Optimisation Simulation
– Use futures to manage a portfolio of physical oil and tankage
– Move oil in and out of storage as you react to market structure
– React to the volatility of time spreads and maximise extrinsic value

Trading Futures using Technicals
– Why use technical trading
– Common indicators used in technical trading; Trendlines; Moving
– Averages; Line/Candlesticks/Bar/Point; Figure; Retracements; Continuation and Reversal signs;
– Volume and Open Interest
– Examples of Technical Trades in current markets
– Technical Charting Simulation
– Trade techincals using Tradesignal’s professional chart analysis software
– Spot trends and use indicators to identify trade entry/exit points

Floating Prices and Hedging
– What is meant by a floating price
– Calculating the daily hedge, and forward pricing profiles
– Managing pricing risk on a portfolio of trades

Hedging Physical Cargoes Simulation
– Respond to new trades and manage the basic daily hedge
– Adjust hedges as BL dates and quantities change

Swaps and Hedging Spread Exposure
– What is a swap, and how are they traded
– Using swaps to manage risk and create trading strategies
– DiƯerential swaps and CFD’s
– Managing spread exposure
– Hedging with Swaps Simulation
– Respond to new trades and manage a complex daily hedge
– Use swaps and futures contracts to manage risk

Geographies and Arbitrage Spreads
– Regional supply/demand and its effect on spreads
– Spread trading strategies

Gas Oil Arbitrage Spreads Simulation
– Trade the futures spread between Europe and U.S.
– Understand the impact of local supply/demand and physical arbitrage
– Hedging Physical Arbitrage Trades
– How to calculate and identify Arbitrage opportunities
– Relative volatilities: Futures, Cargoes and Freight
– Using futures to hedge Arbitrage movements

Arbitrage – Worked Example
– Use of a spreadsheet to calculate and monitor Arbitrage values
– Placing an Arbitage trade: Volatility, liquidity and order of trades
– Trans-Atlantic Crude Arbitrage Simulation
– Calculate Arbitrage opportunities across a portfolio of Crude Oils
– Place all the trades necessary to Arbitrage Crude Oil cargoes

Using the paper derivative markets
– Derivative instruments; hedging
– Practical: Hedging exercises
– Basic risk
– Basis trading

Spread trading
– Time
– Crack
– Arb
– CFD’s; DFL’s as part of the mix
– Using the EFP; EFS mechanisms

Case Study Practical:
– Hedging as a producer
– Hedging as a refiner
– Hedging as a consumer
– Trigger pricing

– Options
– Inputs to the premium and pricing
– Practical: Hedging exercises
– Time & Volatility
– The greeks
– Options trading strategies
– Practical: Trading with Options

Early Bird (until 31 March 2026):
Module 1: £4,995

Standard Price:
Module 1: £5,250

 *For UK companies, VAT will be added at an extra 20%.
Group booking discounts are available. Please contact us (office@ibhouse.net) for more information****

— For the same company bookings, when booked at the same time

– Participation in the 5 days course
– Lunches and coffee-breaks during the programme
– The course materials in hard copy and E-Version
– 40 CPD credits Internationally Recognised Certificate of the IBH and ICE Education
– Social programme | Networking Events
– Visa support (if needed)

Payment options are available in two forms:
bank transfer and card payment.

For your accommodation needs near ICE Education, we recommend the following
hotels:

1) Hyatt Regency London Blackfriars (5*)
2) Leonardo Royal London St Paul’s (4*)
3) Lost Property St Pauls London, Curio Collection By Hilton (4*)
4) Club Quarters Hotel St. Paul’s, London (4*)

Please note that these are just recommendations and are not included in the course
price. However, we are pleased to offer exclusive rates for these hotels when booked
through our services.

For reservations and enquiries, please contact us via email at office@ibhouse.net.