He has an experience of about 15 years and 1 month as a Crude Oil options broker. His main skills constitute the risk management, financial marketing, proprietary trading and business strategy and its various approaches. He is well versed in providing ideas on venture capital, trading system, hedge funds, petroleum, and different trading strategies.
ICAP offers broking services for wide variety and choice of assets which includes commodities, all the emerging markets, equities and credits.
The trading of oil
For Philip Moufarrige, oil is one of the most important and the most frequently traded commodities of the world. The prices of the oil commodities have repercussions for everyone, as oil is used in so many ways and in various products.
One of the major use of oil is petroleum. A large and huge percentage of modern vehicles use petroleum as fuel, and therefore a large proportion of the world’s transportation industry depends on it. The world’s transport infrastructure is fundamental for almost every trade in the world to function, and as a result a crude oil price affects the cost of running all of the transport. Companies have to accommodate with all the price fluctuations.
Future of Crude Oil
The commodity trading in crude oil is based on Cents and US Dollars per barrel. Therefore, the price of the Crude oil are based on which blend is used. There are about 161 different types of blends that are found around the world. Out of these, there are four primary blends that are considered as benchmarks:
- Brent Crude oil
- Western Texas Intermediate
- Dubai Crude
- Organization of the Petroleum Exporting Countries Basket.