Energy
The largest commodity market by value. Energy covers crude oil, natural gas, LNG, and coal — the fuels that power industrial civilisation. Price discovery happens across spot markets, futures exchanges (NYMEX, ICE, SGX), and long-term supply contracts.
Crude Oil
The world's most traded commodity. Crude oil is priced by benchmark grades — Brent (global) and WTI (US) — with hundreds of other grades priced at a differential. Physical oil moves from producer to refinery via Very Large Crude Carriers (VLCCs) or pipelines.
6 concepts · 3 resources →
Natural Gas
Natural gas trades both pipeline-bound (regional pricing) and as LNG (global pricing). European gas prices the TTF hub; UK uses NBP; US uses Henry Hub. Massive price divergence between regions is what creates arbitrage opportunities for traders.
6 concepts · 3 resources →
LNG
Liquefied Natural Gas is natural gas cooled to -162°C for sea transport. LNG is the fastest-growing energy commodity — it globalises a previously regional gas market. Spot LNG (the JKM benchmark) trades between the Atlantic and Pacific basins.
6 concepts · 3 resources →
Coal
Coal splits into thermal (power generation) and metallurgical/coking (steelmaking). The key benchmarks are Newcastle FOB (thermal) and PHRC (coking). Glencore is by far the largest coal trader. Trade flows predominantly Australia→Asia and Colombia→Europe.
6 concepts · 3 resources →