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Introduction

In: Virtual Barrels

Author

Listed:
  • Ilia Bouchouev

    (Pentathlon Investments, LLC)

Abstract

Global oil trading is an example of a complex dynamic system, where everything depends on everything else, and system components communicate with each other via multiple feedback loops. The oil trading system revolves around real options embedded in physical assets. Energy assets are expensive to build and given the high sensitivity of their economics to forward prices, the corresponding risks must be eliminated by hedging. This creates a thriving market for financial barrels the magnitude of which exceeds the market for physical barrels by a large factor.

Suggested Citation

  • Ilia Bouchouev, 2023. "Introduction," Springer Texts in Business and Economics, in: Virtual Barrels, chapter 1, pages 1-7, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-36151-7_1
    DOI: 10.1007/978-3-031-36151-7_1
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