EduMarkets Commodities

Commodities are where finance meets the physical world of barrels, cargoes, power, and metals. Storage, shipping, and refining shape the price at every stage. Users work through cash-and-carry arbitrage between spot and futures, build forward curves, and see how storage costs and freight rates change a trade. The module also covers refining margins, power generation spreads, and the environmental markets for carbon and clean fuels.

Handbook chapters

  1. Physical vs Derivatives
  2. The Three Arbitrages
  3. Basis
  4. Cash and Carry
  5. Crude Oil
  6. Refinery Margins and the Crack Spread
  7. Distillates: Diesel, Jet Fuel, and Heating Oil
  8. Natural Gas and LNG
  9. Floating Storage and Freight
  10. Power Markets
  11. Spark, Dark and Clean Spreads
  12. Carbon: the EU ETS
  13. Trading Power Without a Power Plant
  14. Grains and the Crush
  15. Softs
  16. Base Metals and the LME
  17. Precious Metals
  18. Environmental Commodities
  19. Energy Attribute Certificates
  20. The Renewable Fuel Standard and RINs
  21. Low Carbon Fuel Standards
  22. EU Transport Fuel: RED III
  23. Renewable Gas and Value Stacking
  24. Reading the Market: Data and Analytics

Tools and exercises

  • Curve & Carry
  • Refining & Processing
  • Shipping & Stocks
  • Power & Carbon
  • Environmental
  • Funding & Pricing
  • Exercises
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