This chapter explores the evolution of oil and commodity trading in Asia from the 1970s through the 1990s, focussing on the role of expatriate traders in Tokyo and the subsequent rise of Singapore as a global oil trading hub. It examines how Japan’s economic boom and capital market liberalisation attracted Western traders, while local trading houses (Sogo Sosha) maintained exclusive control over domestic business. As Tokyo became too expensive and restrictive, trading companies such as Phibro, Marc Rich, and Trans World Oil relocated to Singapore, drawn by favourable tax policies and a thriving refining industry. The chapter highlights key players, including Shell and Kuo International, as well as the strategic partnerships formed with China and Indonesia. It also discusses the influence of regulatory changes, market innovations like oil processing deals, and the social dynamics of traders navigating Asia’s rapidly growing energy markets. Ultimately, the chapter illustrates how Singapore emerged as Asia’s leading oil trading centre, shaping the region’s financial and physical oil markets for decades to come.