About the author
Sally Clubley works as an oil price consultant specialising in price risk management. She is a frequent lecturer at the College of Petroleum and Energy Studies in Oxford and elsewhere, and also runs in-house training
programmes. For several years she was divisional director at E D & F Man International and was on the Board of the International Petroleum Exchange.
Contents
The development of the world oil industry
- Origins of the modern oil industry
- The major oil companies
- The oil industry in the twentieth century
- The oil price rises of the 1970s
- Changing price structure
Oil refining
- The refining process
- Changing patterns of demand and consumption
- The refining industry
The markets
- Physical markets
- The futures markets
- The futures contracts
- Propane
- NYMEX No. 2 heating oil contract
- IPE gas oil contract
- NYMEX leaded gasoline contract
- NYMEX crude oil contract
- IPE crude oil contract
- SIMEX fuel oil market
- Natural gas
- Options
- The paper refinery
- Possible new contracts
- Electronic trading
- The future
Entering the futures market
- The decision to trade
- Choosing a broker
- Clearing
- Futures commissions
- In-house administration
- The mechanics of futures trading
- Open outcry
- Orders
Strategies in futures trading
- Hedging
- Spreads
- Arbitrage
- Exchange for physicals
Options
- Buying options
- Selling options
- Option strategies
- Incorporating physical or futures
- Delta hedging
- Market making in options
Over-the-counter instruments
- Swaps
- CFDs
- Partials
- Trigger pricing
- Options
- Swaptions
- Embedded options
How the oil industry can use the futures markets
- Supply department
- The producer
- The refiner
- The traders
- The marketing department
- The distributor and large consumer
- Exchange or OTC?
Technical analysis
- Point and figure charts
- Line and bar charts
- Analysing the charts
- Charts and the oil industry
