By Greg Newman, CEO of Onyx

World of Oil Derivatives

A Guide to Financial Oil Trading in a Modern Age.

The book

Bringing transparency to one of the world's most complex markets

Greg Newman breaks down the inner workings of financial oil markets and how to navigate their intricacies, from the history of oil trading through to fair value, speculation and the impact of financialisation.

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What readers are saying

Reviews from across the industry

“Cover to cover you can’t put this book down. Recommend highly!”

Finally a book that sheds light and brings transparency to the world of oil derivatives! For someone that helps support the financial oil industry within recruitment, this book is significant in helping me understand the intricacies and granular layers to the market. Whether you have a passion for financial markets or not, cover to cover you can’t put this book down.

“A Must-Read Guide for Financial Oil Trading Enthusiasts”

The author's expertise shines through as they break down complex concepts into understandable explanations. With practical examples and a holistic perspective, this book equips readers with valuable insights and strategies. Whether you're a novice or a pro, this guide is a must-read for navigating the complexities of financial oil trading.

“The Best and Most up to Date Book Surrounding Oil Derivatives”

I purchased this book a couple of days ago and it’s by far the most informative and beneficial book regarding oil derivatives. This book is great for traders, brokers and beginners that are looking to get involved and learn about the day-to-day trends, and why the markets move.

“A Gift of a Resource Which Will Have Value Long into the Future”

This is a one of a kind offering and really transformative for the commodities trading industry. As retail traders become more curious about the oil derivatives market, I think this will be foundational reading. It achieves something that’s by no means easy.

“A Game-Changer in Understanding Oil Derivatives”

I found myself genuinely excited to delve into each chapter. The author's talent for breaking down complex ideas made it a breeze to follow, even for someone like me with limited prior knowledge. I can't recommend it enough!

“The Ultimate Guide to This Niche Market: Essential Reading”

As a financial journalist trying to get to grips with the industry, this book was essential. Everything was laid out clearly with loads of case studies. Highly recommend!

“Great book for anyone looking to gain an understanding of oil derivatives”

Fantastic book! Perfect for those new to the oil derivatives market or even experienced professionals looking to deepen their understanding of this rapidly evolving market.

Chapter overview to one of the world's most complex industries

Greg Newman Breaks Down the Inner Workings of Oil Markets

History of Oil Trading

Introduction to the physical oil market, its sectors, history, buying process, exchanges & financialisation.

Commodities Trading

Guide to oil derivative trading, investment banks, exchanges, contracts, market uses & regulations.

Oil Market Influencers

Overview of influencers: OPEC, geopolitical leaders, major companies & research houses.

Oil Derivatives Market Analysis

Supply/demand models, market positioning, financial flows, participant behaviour & psychological influences.

Evaluating Market Conditions

Volatility, liquidity, technical indicators & market scenarios based on volatility & liquidity.

Speculative Trading

Hypothesising, trade classification, risk, position sizing, exits, performance tracking & hedging.

Determining Fair Value

Establishing contracts, linking regions, constructing forward curves & organising contract hierarchies.

The Impact of Financialisation

Market maker growth, data sophistication, tech power, changing market dynamics, oil derivatives & the future of data.

What is the Solution?

Exploring forward curves, market analyses, growth in derivatives trading, threats & future trends.

Who’s the book for? Newcomers to this market, with a focus on assisting graduates in their journey to become oil traders. Industry professionals seeking to improve their understanding in this area, particularly if their focus has been on physical oil trading. And keen observers who aren’t aware of the wider financial oil market beyond the core futures contracts and seek further information and understanding of the data.

Chief Executive Officer

Greg Newman

Greg Newman is the Chief Executive of Onyx Capital Group, the world’s largest liquidity provider in oil derivatives. Greg began his trading career at Mandara Capital aged twenty-two where he created the crude oil desk. Within three years, it became the largest independent market-maker in Dated Brent and Dubai swap markets. In 2016, Greg left Mandara with colleague Omar Kayaam to launch Onyx. Greg has been the driving force behind Onyx’s development on the trading floor and beyond, establishing training programmes, research, data services, brokerage, news, and analysis. He’s featured in “40 Classic Crude Oil Trades” and the crude desks he formed at Mandara and Onyx are in “Brent Crude Oil: Development of the Benchmark.” Greg holds a BEng in Biochemical Engineering from University College London.

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Disclaimer Notice: Unauthorised Firms

The Financial Conduct Authority has released warnings that the following unauthorised firms “Onyx Traders” and “Onyx Trade Group” may be targeting people in the UK. The Onyx Capital Group, and its subsidiaries (collectively “Onyx”), do not have any association with these firms. Onyx Commodities Limited (FRN: 778117) and Onyx Capital Advisory Limited (FRN: 822509) are both authorised by the Financial Conduct Authority.