VIRTUAL: International Oil Trader Academy

PROGRAMME. MODULE 1.

Physical Crude & Products Trading
5- 9 September 2022
(Break day on 7th)

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 

5 September – 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

6 September – 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 7th

8 September – 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

9 September – 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.

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