Will Thornton
Head of Oil Flow and Cross-Commodity Trading (London)
Excellent risk management techniques and a great credit team have helped us rise to the challenge.
What are the biggest challenges you currently face on the oil desk?
Jet fuel and transport fuel exposures during the global pandemic have been a huge challenge. Jet fuel prices collapsed sharply together with a reduced need from the aviation and freight sectors for fuel hedging. Excellent risk management techniques and a great credit team have helped us rise to the challenge.
In recent years, what have been the major developments within your market?
Definitely the introduction of IMO2020, the rule imposed upon ships which limits the sulphur content in the fuel oil they use on board. It caused a large price shift in sulphur content differentials and spurred the creation of new marine fuel oil contracts that we now trade frequently.
