Preparing for Commodities Desk
Would love to hear some opinions on my plan for my upcoming internship. Planned on renting Options, Futures, and other derivatives and self study that over winter break. What chapters would I really focus on for a baseline understanding? From there I planned to read Commodity Option Pricing. And then also throw in a few books such as World for Sale, Domino Effect, and World of Oil Derivatives. I have a good understanding of fundamentals and am currently going through the FERC primer, reading Oil 101, and starting to use Bloomberg. Any advice is appreciated
The book virtual barrels is great
Congrats. Would also recommend Commodities Demystified by Trafigura
don’t just focus on oil, learn about electricity and power. the power desk is usually the largest desk at most banks if your desk is at a bank
Do you have any good recommendations for electricity and power? Its the area I need to learn most about
Comprehensive guide that helped me for my interview in commodities
Oil
Key topics: upstream, midstream, downstream, WTI v Brent, OPEC, geopolitical, storage/inventory, refining
Power
Key topics: generation sources, supply & demand (weather, seasonality, economic activity), grid operation and constraints, renewables v nuclear
Nat Gas
Key topics: Gas sources (shale v conventional, fracking, transportation and storage, export market and LNG, henry hub, pricing mechanisms
Resources:
EIA - energy today, their energy explained, power explained, and nat gas explained
understand how different supply and demand factors will impact prices and the overlap between commodities asset like nat gas and power
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