Commodities

Good evening, Long time passive WSO lurker here that has decided to finally register and engage on the forums. I finished my postgraduate degree towards the end of last year and after several applications and interviews I managed to land a job as a junior trader at a power utility company. I have...

11 Jan 2022

Maybe it's because it's more of a Euro bank thing but I don't think I have ever seen commodity trade finance discussed on WSO aside from somebody asking about a job opportunity years ago. It's one of my default recommendations for people looking for internships before applying to physical trading...

20 Jul 2020

I am not 100% sure what I want to do with my life - Energy trading or IB. I have a crude trading internship lined up at a major this summer, and my prospects in the industry seem good for next summer (knock on wood), given I feel confident about a superday I just wrapped up at a certain Australian...

19 Apr 2022

I am a traffic rep/scheduler at a mid-sized O&G marketing/producer services shop. My feedback reviews from the higher-ups have always been very positive, and I think I'm making inroads in that regard. My eventual goal is to become a trader. I have been in this job for about 2 years now; I worked as...

07 Apr 2020

I have a trading internship for a large energy shop lined up this summer and I want to make the most of it to get that coveted full time offer. What should I be doing to prep for said internship (other than just learning about the industry online)? Any specific books or materials I should start...

01 Jan 2022

What is the best ABCD agricultural trading firm? This in terms of long term compensation, prestige, growth opportunities and long term resume build. Also is there a particular Agricultural product that is best to start with straight out of college or one to avoid? On another note perhaps a seperate...

09 Nov 2019

Most commodity markets tend to be driven by a few basic factors which are freight on one side, price on the other side and qualities. Each commodity market has its own particularities. Most of what I will generally talk about applies to oil and the liquids in particular which is a little bit...

03 Jan 2017

Looking to get some of the opinions of the other physical trade guys in the forum, but anyone feel free to chime in. Given the moves XOM has made, what are your opinions on having another monster trading shop coming into the market? I agree with the sentiment that they arent going to start paper...

13 Jun 2018

Hello everyone. I need advice from people in Commodity Trading. I have been offered a role of Marine Coordinator/Operator at a Super Major. I have also interned in Risk for another Super Major. I want to work as a trader in commodities in the future and know that operations knowledge is very useful...

29 Nov 2018

I've been on my desk (metals) for two years. I like it here, i still feel like i'm learning, and i do think i could have a successful career here into the future. I don't want to name names but it is considered in the top tier in commodities. However, i have an opportunity to move to a top trading...

11 May 2018

What commodities are best to trade in the mid/long term? Talking about physical trading at Glencore, Vitol, Trafigura...etc Currently an undergrad in Europe and I have the opportunity to work part-time as an assistant LNG or Copper trader. Physical, not paper trading. I will probably chose the LNG...

07 Apr 2019

This is the only forum where I was able to find and read posts from actual physical commodities traders and I would appreciate hearing your thoughts on starting commodities trading business (a physical commodity trading company) with $20k. For the sake of argument, let's say I have covered my...

02 Dec 2019

After reading all the funny posts and comments on this website for so long, I finally need to ask for some help. I'm currently deciding between two offers - one in big tech/FAANG (which is a return offer from junior summer) and the other at a commodities trading firm (ABCD). I was really into...

03 Dec 2021

Recently managed to secure a role as an Analyst in MO for trading at a global commodities trading house, just looking for opinions on the job, past experiences, references, what can I expect, exit opportunities, tips, prospects on making it into the trading desk, etc. I have experience in financials...

07 Mar 2022

Hi all, I have been searching throughout WSO for help and information on physical commodities so I thought maybe by posting here people may point me in the right direction ! last year I applied and got the the final round of the Trafigura grad program based in Geneva. To say I was gutted not to get...

13 Jun 2020

I know this will likely catch a lot of flack, but I'm really interested in ESG research positions. Wondered if anyone here jumped from IB, ER, consulting, or a similar role to an impact fund or an organization/tech firm doing ESG research + investing. Feels like a natural, more intellectually...

21 Sep 2021

Hi everyone, i'm new and it's 3:20am in a beautiful city in Italy. Please keep all errors. They are welcome gifts from my part. I have some questions regarding physical commodity trading in Europe, especially in Italy & Germany, since these are the two countries for which I possess the necessary...

03 May 2017

Hi. Advice needed for project ideas on commodity trading. For example, I have built macros to price vanilla options as well as option strategies and calculate and chart their Greeks. I'm seeking something of this sort ( programming involved or not) that I can pursue as a personal project related to...

20 Jun 2018

Hi, my dilemma is the following: I joined a commodities trading firm (oil & gas) just three months ago in Switzerland. Had to move from London, which was quite a big move. The salary is really good, the job is challenging and seems to be interesting so far (I'm a trading assistant, fresh graduate),...

22 Jun 2021

Hello, I am wondering what traders do we have here on this S&T forum? Physical/Paper: Commodity: Geo:

23 Aug 2021

Hi all, To start this story, I started my senior year of school with no real experience, and was attending a non target school in NYC with a average GPA. I didn't know what I wanted to do after graduating, all I knew is that I wanted to do something in business. At the start of my senior year, I was...

29 Aug 2018

Hi everyone, I am currently a 1st year analyst working at a very niche commodities research shop with limited to zero growth prospects ahead career-wise given how small and lean my shop runs. Recently, I've acquired the opportunity to interview for a commodities role at a large investment bank....

12 May 2017

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from October 2011. If there's an old post from Eddie you'd like to see up again shoot me a message. At a time when the last thing the world needs is more mouths to feed, our lamentable species is set to cross the 7...

22 Sep 2012

2 years ago I read The King of Oil, as suggested by a WSO thread. From that day on, I told myself "I'm gonna f*cking do that." Fast forward to now. I'm a college senior and in June I start my career as a Trainee in the Oil Division of a Physical Commodity Merchant. It's like playing for the Yankees....

05 Jan 2017

Hi guys, I just got an offer from an Oil Major as an crude oil analyst, my tasks are: - updating data basis of counterparts of the firm (their credit rate...) - writing financial & market analyses about crude oil, its production etc. - writing notes and geographical analyses (North sea, Russia,...

09 Mar 2020

Crossposting from Job forum. I graduated this spring from a top tier university that is more known for its med school than anything else. Due to personal obligations , I stayed at home in the south during summers working blue collar jobs rather than pursuing finance internships. I am really...

25 Jun 2020

I recently interviewed at the Citi Commodities Analyst program. It has been 2 weeks already and I haven't heard anything back. Did anyone else already interviewed for this position before? Definitely would like to hear your thoughts or share any intelligence.

04 Oct 2019

Well, it's been some months that I browse this resourceful website and I should say, I need some advices. I'm an undergraduated student in a Msc in finance in a target european business school, I am president of the finance association, wrote dozen of financial analysis invested in stock markets. I...

03 Jan 2020

With the AECO spot price under $2, and the Henry Hub price at the mid $2 range, many investors are running away from gas stocks all together. Investors are also trying to play "hero" as they try to time the bottom of prices and so far have gotten burned. The low gas prices have created a great...

22 Mar 2012

Corn hit a record high yesterday amid a worsening drought affecting 90% of the nation's crop. I have to admit I haven't really been paying attention, because I haven't traded corn since 1999. Of course I'd seen the news about prices, but I never paid attention to the actual price per bushel. When...

31 Jul 2012

I've been seeing a ton of posts here about this, because it seems that now that BB S&T is downsizing everybody is looking for the next best thing. I am addressing this because I think it needs to be said, and it seems to be what most of these threads come down to. This is definitely geared towards...

22 Oct 2012

If you could trade weather and make money, would you do it? Or better yet, even think that it is possible? You could add this as something being bizarre and Ripley may add it to his bizarre collection. Believe it or not, it is possible to trade weather. More specifically, weather is traded as a...

10 Feb 2015

I was going to post something about this yesterday. The CFTC has charged a handful of small players with market manipulation in response to the 2008 oil spike to $147 a barrel. And I'm really at a loss for what these guys did that was illegal. Sure, they tried to corner the market for WTI crude at a...

26 May 2011

WSO should consider adding commodities to the S&T dropdown list of options for the S&T badge displayed on profiles. would be much preferred and 'cooler' than the current 'other' tag. Just a thought.

14 Jul 2015

Hey guys, We all know there´s no such as a bank ranking for trading, everything depends on the desk and things change a lot because entire desks move between banks, but I wanted to get your opinion on what are the top desks in London for these asset classes at the moment, since they are the ones...

26 Oct 2011

On April 30th, Delta Airlines announced that it would be acquiring an oil refining complex in Pennsylvania for $100mm as a sort of alternative hedge on jet fuel costs. The facility needs to be retooled to focus more on Jet Fuel, but Delta CEO Richard Anderson believes that the investment could save...

11 May 2012

Hey WSO Community, I'm on the commodity side of things and we look at quite a bit of research both out of banks and independent consultants/buy side research. I was curious if anyone has come across Energy Aspects' work and/or has experience working at the company? Any further thoughts on best in...

14 Nov 2017

Monkeys, thought I'd throw this one out to the pen. I am in the physical commodities trade currently and have been getting the itch for a new post. Ironically, a few buy-side funds and international commodity recruiters have reached out to contact me in the last couple weeks and I have taken a...

23 Jun 2015

I got a call on wednesday (4/3) from a major U.S. based physical commodities trader. Today I heard from them again and they booked me for a last-minute flight out to interview with their grains desks in the midwest on Monday. I am curious to see what types of prep work you fellow monkeys think I...

05 Apr 2013

Hey guys! I am looking for some advice for my choice of graduate studies. I am considering the following options but don't know which one to choose: 1. Masters at Oxbridge for 1 year. Pros: The name, gets me in the target schools for FO, great networking opportunities, great student life (I hope),...

14 Apr 2018

Hey guys, I recently accepted an offer for SA position on the trading floor of a top supermajor O&G firm (Chevron/Shell/BP) in their physical power & gas group. I was wondering what bonuses are like in these groups. I have a buddy who's doing 1st yr analyst in commodities at a BB and their bonuses...

07 Jan 2015

Yes, I know the economic definition of a luxury good but I want to know the Monkey's definition of a luxury good. (For those that don't, I'll post it at the end)

22 Nov 2010

Wondering if anyone has any tips of building an operating model used for valuation for a commodities business. Some background info on the company: top 5 producer/processor/distributor of poultry, "mature" company with strong market share in the space that it operates in. Like with any commodities...

02 Sep 2015

Fracking. It is the multi billion dollar word that most of you should know very well. Also known as hydraulic fracturing, the process uses water, sand, chemicals and pressure to crack rock deep beneath the earth's surface, releasing vast amounts of previously unattainable oil and gas. Today, it...

15 Mar 2011

I'm beginning my internship on a physical gas desk in Houston at a super-major firm on Monday so naturally I've been reading up on the business as much as my final exam schedule allows and a question came to mind: Does a market for options on specific physical commodities exist? I know that you can...

14 May 2015

Hello everyone, This may be a long shot but does anyone in our community have experience with *consignment leasing facilities *for commodities. I'm thinking precious metals (platinum, palladium, rhodium, other PGMs, etc.) and other high volatility assets that companies hold on their balance sheet...

09 Apr 2019

I'm a 20 year old Australian Intelligence Analyst looking to break into investment analysis after my 2 years of service here in the Australian Air Force. I'm interested in Investment banking and Commodities trading. How marketable are my service skills in the financial industry? I'm not looking to...

30 Dec 2017

What a find! While I was on vacation last month, none other than Louis Winthorpe III appeared on Bloomberg to explain how he and Billy Ray Valentine took down the vile Randolph and Mortimer Duke. Listen guys, it is not inconceivable to me that some of you younger monkeys may not have seen Trading...

11 Sep 2013

Here's a pretty cool video on why you should invest in Gold over keeping your cash. Set to banging house music. Funny how the legendary investors are shown as buying gold in the present tense. This is obviously a marketing tool for a bullion dealer but, does anyone still buy the gold story? Is it...

12 Jan 2011

The Financial Times has recently released their top 10 Hedge Fund manager list, and no surprise here, it's pretty much a cross section of the funds found on this recent thread. (Which I just found out also has a link to the article… Moving on.) Net gains for investors since inception was the...

15 Sep 2010