Commodities - Not sure what to do after internship

Hi guys, I am going to be joining a bank on an oil and gas trading desk as a summer analyst. I do want to go into commodities full-time after graduation (I know getting hired as a trader right out of undergrad is impossible at most shops), but I am unsure of where to go from here. Should I be recruiting for TDPs? If so, what is the process of recruiting for them? I have always been down the traditional S&T path, so commodities recruiting is new for me. Looking for any guidance or steps to take before this internship begins and how to position myself for after this internship (I graduate in 2027).

thanks

276 WSO Academy Sales & Trading Session Reviews: 4.85/5

Class of '28 Aug 2026 Cohort

5.00/5

Sales & Trading Career Roadmap (optional)

“John listened before giving advice. I told him I had accepted an offer at Bank of America but was still interested in JLL and Wellington. Instead of telling me what to do, he asked what I wanted from my career and helped me think about which path would give me more options. I also liked that he was honest about what he knew and didn’t know. He gave me a clear reason to keep working toward JLL, while reminding me that Bank of America was still a good place to start. When I practiced my interview answer, he told me what worked and gave me one simple way to improve it. That made the feedback easy to use. Most of all, John made me feel less stressed about figuring everything out right now. He offered to help with a mock interview too, which meant a lot to me. ”

Class of '28 Apr 2026 Cohort

5.00/5

Sales & Trading Mock Interview

“The mentor provided extremely detailed and thoughtful feedback throughout our session. What I appreciated most was that the advice was not generic. He took the time to understand my background, past experiences, and the specific roles I am currently recruiting for, and then tailored his suggestions accordingly. He also connected many of his recommendations to his own professional background and experiences, which made the feedback much more practical and credible. Instead of simply telling me what to change, he explained why certain answers or approaches would be more effective and how an interviewer might interpret them. He also shared specific examples from his own experience to illustrate his points. I came away from the session with a much clearer understanding of both my strengths and the areas I should improve, as well as several concrete ways to strengthen my interview preparation. Overall, the session was extremely helpful, personalized, and actionable, and I would definitely work with him again.”

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Based on the most helpful WSO content, here's a roadmap to help you navigate your path in commodities trading after your internship:

1. Maximize Your Internship Experience

Build Relationships: Commodities trading is highly relationship-driven. Use your internship to network with traders, analysts, and other professionals on the desk. Demonstrate your interest and eagerness to learn.
Learn the Fundamentals: Absorb as much as you can about the oil and gas markets, trading strategies, and risk management. Ask questions and show initiative.
Showcase Your Value: If possible, contribute to projects or tasks that highlight your analytical skills, market understanding, or ability to solve problems.

2. Position Yourself for Full-Time Roles

Target Trading Development Programs (TDPs): These programs are a great way to break into physical trading. Companies like Trafigura, Vitol, BP, and Shell offer structured TDPs that groom candidates for trading roles.
Recruiting Process for TDPs:
- Application: Typically involves submitting a CV and answering market-related or strategic questions (e.g., risk management or investment ideas).
- Interviews: Expect multiple rounds, including technical questions, market scenarios, and behavioral assessments. Some firms may also include case studies or group exercises.
- Preparation: Research the company’s trading focus, understand their markets, and be ready to discuss current events in commodities.

3. Leverage Your Internship for Networking

Stay Connected: Keep in touch with the professionals you meet during your internship. They can provide insights into the industry and may even refer you to opportunities.
Expand Your Network: Attend industry events, join commodity trading forums, and connect with alumni or professionals in the field.

4. Develop Relevant Skills

Market Knowledge: Stay updated on oil and gas markets, geopolitical events, and macroeconomic trends.
Technical Skills: Learn Excel modeling, VBA, and Python for data analysis. Familiarize yourself with trading platforms and tools.
Certifications: Consider certifications like the Energy Risk Professional (ERP) or courses in physical trading to strengthen your profile.

5. Alternative Paths

If TDPs are highly competitive, consider roles in logistics, trade finance, or operations at commodity firms. These roles can serve as stepping stones to trading desks.
Internships or roles at commodity producers, consumers, or brokers (e.g., Marex Spectron) can also provide valuable experience.

6. Plan Ahead

Before Your Internship: Research the desk you’ll be joining, understand the basics of oil and gas trading, and brush up on technical skills.
After Your Internship: Reflect on your experience, identify areas for improvement, and start preparing for TDP applications or other relevant roles.

By focusing on networking, skill-building, and strategic positioning, you’ll increase your chances of breaking into commodities trading full-time. Good luck!

Sources: Physical Commodity Trading, Fashionably Late: 6 Steps for Off-Cycle Recruiting, Q&A: I'm an Agricultural Commodities Trader, Q&A: I'm an Agricultural Commodities Trader, Correlation between top degrees and a career in commodities

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