Book review: Untangling the knotty history of oil’s trading evolution
A former trader proves an illuminating guide to the messy and ad hoc way that multi-billion dollar crude markets have been born and developed
Adi Imsirovic has, in his new work Trading and Price Discovery for Crude Oils, written very much a book of two parts. The first eight chapters race us on a tour through the economic history of the oil market over the last 170 or so years; the second part gets down to the brass tacks of the complex markets spawned by producing country nationalisations on the one hand and the gaming of the UK fiscal regime for petroleum on the other. There can be few commentators with as appropriate a CV to write on this topic as the author. A professional energy economist, an educator and, for many years, a successful trader in oil markets, his detailed knowledge stands out in this analysis. Something o
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy