Introduction

This book is a natural continuation of my first book, ‘Trading and Price Discovery for Crude OilsTrading and Price Discovery for Crude Oils’ published in 2021. The first book covers the history and development of oiloil marketsoil markets from the early days in the 1860s, Rockefeller and the oligopoly of oil Majors to OPECOPEC and the age of benchmarks. Drawing on my research, learning, and practical knowledge of the oil marketstrading, I tried to explain the genesis as well as the working of the key oil benchmarks.