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40 Classic Crude Oil Trades: Real-Life Examples of Innovative Trading
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.
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.
251 pages, Kindle Edition
Published January 31, 2022
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Displaying 1 - 7 of 7 reviews
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October 1, 2025Oh what it is to be an emerging markets commodities trader ... few things are more similar to being an early modern explorer, in ways good and bad.
July 6, 2025
No offense to “The King of Oil”, but this is the best book I’ve read about the oil market. The format is exceptionally well executed: each section is just 4–5 pages, starting with a brief background on the trader and then diving into a memorable trade from their career. It’s punchy, well-paced, and deeply informative.
What makes this book stand out is the diversity of traders featured—from producers to banks to hedge funds—and the fact that the trades span more than 50 years. This historical breadth works beautifully with the vignette-style format, allowing the reader to see how the market and its participants have evolved.
One chapter that really stood out was the story of a woman who began trading in the 1960s. Her experience—and the way she was treated—would be shocking by today’s standards, but it powerfully illustrates how far gender equality has come in the industry.
As someone who has worked at a commodity producer, I found the sections on building trading capabilities within traditional production-focused firms especially relatable. The cultural friction and strategic tension captured in these stories felt authentic and deeply familiar.
Overall, this is a must-read for anyone interested in oil markets, trading psychology, or the real-world mechanics behind global commodities.
What makes this book stand out is the diversity of traders featured—from producers to banks to hedge funds—and the fact that the trades span more than 50 years. This historical breadth works beautifully with the vignette-style format, allowing the reader to see how the market and its participants have evolved.
One chapter that really stood out was the story of a woman who began trading in the 1960s. Her experience—and the way she was treated—would be shocking by today’s standards, but it powerfully illustrates how far gender equality has come in the industry.
As someone who has worked at a commodity producer, I found the sections on building trading capabilities within traditional production-focused firms especially relatable. The cultural friction and strategic tension captured in these stories felt authentic and deeply familiar.
Overall, this is a must-read for anyone interested in oil markets, trading psychology, or the real-world mechanics behind global commodities.
May 20, 2022
A unique perspective of oil trading
This is a unique book in many aspects. First, it combines the physical and financial side of oil trading, with many backgrounds, some of them are option traders, government officials, analysts, etc. The trades covered came from many places: the North Sea, Russia, South Africa, etc.
I’d say this is a must-buy for anyone who is new at oil trading, or wants to have a glimpse about how this business works. The selection of the material is top quality, which is understandable considering the author trajectory at CME.
This is a unique book in many aspects. First, it combines the physical and financial side of oil trading, with many backgrounds, some of them are option traders, government officials, analysts, etc. The trades covered came from many places: the North Sea, Russia, South Africa, etc.
I’d say this is a must-buy for anyone who is new at oil trading, or wants to have a glimpse about how this business works. The selection of the material is top quality, which is understandable considering the author trajectory at CME.
March 13, 2025
As the title says, this book goes over 40 unique stories of successful professionals in trading with different backgrounds. As a newcomer in this world (not even in trading but one of the adjacent functions), the author guides you through basic concepts without being too junior, and in depth enough to guide you through the thought process of each of the “guest authors” and how they succeeded. I really recommend it even if you are not in crude trading, as it is quite entertaining, yet dense.
November 24, 2024
This book is set to become a staple for newcomers to commodity trading. The book excels at breaking down the complexities of trading into relatable, everyday challenges, reminding readers that success often lies in solving day-to-day problems, not just tracking prices on a screen.
A concise, insightful read—perfect for anyone starting their journey in commodity trading.
A concise, insightful read—perfect for anyone starting their journey in commodity trading.
September 6, 2025
As a macro trader, couldn’t relate much on the physical part but definitely good transferable knowledge: carry strategy is everywhere: contango/ storage options/ and how the traders find opportunities to market hedges for people in the positions. In the contango trades, when everyone is long, a good trader should know when to take profit.
January 24, 2023
Comprehensive compilation of oil trading evolution
Covers perspectives from people in drivers seat as oil trading evolved over the few decades. Amazing range of backgrounds, strategies and adapting to changing world.
Covers perspectives from people in drivers seat as oil trading evolved over the few decades. Amazing range of backgrounds, strategies and adapting to changing world.
Displaying 1 - 7 of 7 reviews