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Trader Middle Distillates (Physical Market)

Greenex Energy
Dubai, UAE
Senior
Onsite
2 months ago
Physical TradingMiddle Distillates MarketsRisk ManagementHedgingICE Gasoil FuturesPlatts
Free

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Key skills for this role

Physical TradingMiddle Distillates MarketsRisk Management
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Job Summary

  • The Middle Distillates Physical Trader will be responsible for managing end to end trading activities across the gasoil, diesel, jet fuel, and heating oil value chain. This includes sourcing physical cargoes, identifying geographical and time spread arbitrage opportunities, managing a trading book c

Key Responsibilities

  • Demonstrate substantial experience in physical middle distillates trading (gasoil/diesel, jet fuel/ATF, heating oil, marine gasoil), including spot, term, and back to back transactions.
  • Develop and maintain relationships with refiners, suppliers, end users, and counterparties across global distillates markets (NW Europe/ARA, Mediterranean, US Gulf Coast, East of Suez/Singapore, Middle East).
  • Maintain a comprehensive understanding of middle distillates market fundamentals, including global supply and demand flows, seasonal dynamics, pricing benchmarks, crack spreads, time spreads, and regulatory environment.
  • Manage a trading book covering physical cargo positions, pricing exposure, freight and logistics components, and hedging strategies using ICE Gasoil Futures, NYMEX ULSD Futures, OTC swaps, and options.
  • Identify and execute geographical arbitrage, time spread and storage plays, product spread opportunities, and inter commodity opportunities.
  • Coordinate closely with shipping and operations teams on vessel chartering, delivery terms, storage and blending operations, and demurrage management.
  • Mitigate market exposure through futures, swaps, and options on ICE Gasoil and NYMEX ULSD, managing basis risk, monitoring VaR, position limits, and daily P&L.
  • Actively engage with brokers, shipowners, refiners, and trading counterparties to strengthen market presence and cargo flow access across EMEA, Americas, and Asian markets.

Qualifications

  • Minimum 5 years of experience in middle distillates trading or related refined products markets (gasoil, diesel, jet, heating oil, or fuel oil).
  • Bachelor's degree in Finance, Economics, Business Administration, Engineering, or a related field.
  • Demonstrated track record of executing profitable trading strategies and managing a physical book.
  • In depth knowledge of middle distillates market structure: gasoil, ULSD, jet fuel, kerosene, marine gasoil, heating oil, product specifications and refinery economics.
  • Strong understanding of pricing mechanisms and indexation: ICE LS Gasoil, Platts CIF ARA, Platts FOB MED, Argus ARA, Singapore MOPS, NY Harbor ULSD, crack spreads.
  • Proven ability to manage a physical and paper trading book with associated price, basis, and freight risk.
  • Solid understanding of shipping and logistics in commodity trading: tanker sizes, Incoterms, freight markets, worldscale.
  • Experience with hedging instruments: gasoil/ULSD futures, OTC swaps, options; understanding of Greeks and basis risk.
  • Strong communication, negotiation, and relationship building skills with refiners, end users, and brokers.
  • Proficiency in Microsoft Excel and trading/ETRM systems (e.g. Aspect, Orchestrade, OpenLink, Brady).
  • Knowledge of trade finance and international trade practices (Letters of Credit, UCP 600, EFET/GPSA contracts).
  • Familiarity with compliance and regulatory requirements: MiFID II, sanctions screening, IMO 2020, biofuel mandates.

Perks

  • Opportunity to operate in global middle distillates markets with real trading exposure across ARA, Mediterranean, US Gulf Coast, and East of Suez.
  • Access to international logistics and trading infrastructure.
  • Performance driven compensation structure (PnL linked).
  • Fast career growth in a dynamic and expanding trading environment.
  • Entrepreneurial culture with strong focus on decision making and market impact.

About the company

  • Greenex Energy is an emerging leader in base oils and petrochemical products trade, distributing them to serve the markets in Africa, Europe, Asia and the Americas. The company stands for high quality commodities. As an independent service company, we specialize in physical Base Oil and Petrochemica

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