Oil Trading Manual: A Comprehensive Guide To The Oil Markets

Physical characteristics and refining
Oil pricing arrangements
Physical oil markets
Forward and futures contracts
Options and swaps
Operations and logistics
Accounting and taxation
Controlling financial risk
Legal and regulatory control

OTM provides a unique and comprehensive reference source to the structure and conduct of the international oil markets. The newly-updated manual covers all the major oil trading instruments and their applications; the trading centres, contracts, uses and users of both the physical and the terminal oil markets, and their administrative, management, tax, and accounting implications. It also includes vital information on the most recent changes to the international legal and regulatory structures.

The manual is divided into three complementary
parts;

Characteristics
An introduction to oil and oil trading, and includes material on the nature of oil as a commodity, refinery processes and the different ways in which oil is priced.

Instruments and markets
Deals with the oil market itself taking each segment in turn, explaining how the various trading instruments work and describing the markets that have evolved to trade them. It starts with the physical oil markets, moving on to forward and futures markets, followed by options and swaps.

Administration
Covers the essential ‘back-room’ activities without which oil trading could not continue. It includes practical material on operations and logistics, credit control, accounting, taxation, contracts and regulation, and controlling financial risk, providing a unique guide to the subject.

Compiled from the contributions of a range of internationally respected professionals, it is the indispensable practical companion for all those involved with trading in this complex commodity.