Oil Trading Internship Preparation
Hello everyone,
I was hoping to apply to and secure oil trading internships (in companies like Trafigura) for the summer of 2013.
I have been preparing by researching the firms and looking at previous interview questions as well as by reading through some of the useful posts and recommended readings that I have found throughout the forum (e.g. Oil 101). My prior work experience has been in random areas and will include recently secured investment banking spring weeks.
I feel that my internships have been all over the place but have taught me important analytical and social skills. If I was given the opportunity to express my interest, I will have no doubt I can but I am worried I will not even get through the first stage of interviews.
Will not having oil related internships really hinder my application? What are ways I can help improve my CV before applications later on in the year? (I've thought of setting up a small trading account, but I am definitely not at the level to begin trading yet - what about simulated trading?) Any suggestions on how I can best spin my non-oil related experience to put me in the best light?
Any thoughts would be appreciated!
If you're keen on the oil & derivs division of Traf make sure you're proficient in the most important grades of crude, their chemical and financial characteristics and what can be shipped where, the arbitrages (product/location/time), crack spreads, forward curves (contango/backwardation), physical deliveries - the main delivery points for all major crudes, hedging, upstream->downstream, datasources and indicators (EIA, DOE), etc.
Oil 101 will give you a solid base on the technical side, other than that I'd keep up with current events in Iran/Libya/etc. then follow up on global markets, politics... What are your previous internships?
Thank you SonnyZH for your response, I'll make sure to focus on what you have suggested.
My previous internships include m&a at a boutique, consulting, and a research based role at an academic institution. Are you also looking to apply to similar positions next year?
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