Resources

A beginner-friendly place to start.

You do not need prior experience. These resources will help you learn the basic vocabulary, research commodity markets, and follow the forces that influence prices.

Beginner Articles

Start with the fundamentals.

Beginner Course

What Are Futures?

Learn how futures contracts, exchanges, hedgers, speculators, and commodity markets work.

Market Structure

What Are Contango and Backwardation?

Understand futures curves, spot prices, contract maturity, and the relationship between prices over time.

Energy Markets

What Moves Oil Prices?

Explore the effects of supply, demand, inventories, geopolitics, and financial markets.

Books and Podcasts

Go deeper.

Books

The World for Sale Javier Blas and Jack Farchy - global commodity trading, merchants, geopolitics, and physical markets Oil 101 Morgan Downey - the oil supply chain, refining, logistics, pricing, and derivatives

Podcasts

Odd Lots Bloomberg conversations about markets, economics, supply chains, energy, and financial systems The HC Commodities Podcast Interviews with professionals across energy, commodities, trading, and physical markets

Useful Websites

Research the market.

Futures Markets

CME Group Commodities

Explore commodity futures, contract specifications, prices, trading volumes, and educational material.

Energy Data

U.S. Energy Information Administration

Find data on oil, natural gas, electricity, inventories, production, consumption, and energy prices.

Metals Data

London Metal Exchange

Follow copper, aluminium, nickel, zinc, lead, tin, and other industrial-metal markets.

Agricultural Data

USDA WASDE

Review monthly global supply-and-demand forecasts for major agricultural commodities.

Market Positioning

Commitments of Traders

Examine weekly futures positioning by producers, merchants, funds, and other trader groups.

Global Data

World Bank Commodity Markets

Access commodity prices, forecasts, outlook reports, and the monthly Commodity Price Data Pink Sheet.

Join the Club

Start learning how global markets work.

Join us to learn more about commodities and stay updated on meetings, competitions, and club events.