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A running series on the operational backbone of commodity trading: freight, demurrage, market structure, and the data discipline that separates good desks from great ones.
Read the seriesA six-part series on building a durable career in commodity trading: future-proofing your skills in an AI-first market, moving from trader to desk head, navigating ETRM vendors, reading the room, and building the reputation and judgment that compound over decades.
Read the series
You hedged, prices moved your way, and you still lost money. That is basis risk. The three kinds every desk carries, how they bite, and what managing them actually looks like.
Anish PujariSep 3, 2026 4 min read
The shape of the forward curve is the market's most honest sentence. What contango and backwardation really mean, how carry trades work, and the roll cost that quietly eats positions.
Anish PujariSep 3, 2026 4 min read