Shell Traders Post $1 Billion Profit in Fuel Oil Market

Interesting indeed. A yound inspiring intern would give anything to work on that floor!

Although better known for its oil fields, refineries and pump stations, Shell runs an in-house trading business that’s larger than the better-known independent oil traders like Vitol Group, Glencore Plc and Trafigura Group, handling 13 million barrels of oil equivalent per day. The company describes itself as “one of the largest and most experienced energy merchants in the world” with major trading floors in Houston, London, Dubai, Rotterdam and Singapore.
 
It's nice when you are of a few desks that can actually trade the cash.

One of Bp's desks - it's actually part of the old CME floor
BP Merc.jpg
 
trading at BP or shell or any energy giant is not trading like you may think. It's a cross between sales and trading where it's 90% sales. Also, the floor of these firms are unlike those of prop firms/MMs
 
ETJ said:
It's nice when you are of a few desks that can actually trade the cash.

One of Bp's desks - it's actually part of the old CME floorView attachment 213453
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I'd imagine since they are a desk for an energy company they are primarily hedging and caught the huge tailwind this week in front month oil.

Pretty cool picture, but I imagine most of these guys are just managing hedges with their suppliers rather than actually trading.
 
"what are these guys pulling down a year? ...say, on the Houston floor? thx"

Can't speak to Houston, but this floor has everything from clerks to sales traders so the range is anywhere from 5 figures to 8 figures. From the ones you meet at industry events I always assume some exaggeration and you can't ask anymore when you recruit in this state. Very dependent on the performance of your business unit. Much like the HF and FO community it's mostly in the bonus.
 
Think of a sales trader as a broker who also trades the underlying and the derivative. They work with the customer.
 
easymon1 said:
what do sales traders do?
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Sales traders interact with the traders on the buy side.

Sellside salesman talks to buy side PM about trade idea
Buy-side PM tells his trader to buy a stock
Buyside trader talks to sellside sales trader to buy a stock
Sales trader works with trader to buy the stock for the client.
 
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