The problemYou join an oil trading desk or energy team. Dated Brent, OSPs, crack spreads, Worldscale, 3-way collars, Suezmax TD20 — the vocabulary hits fast and hard. Most people learn by osmosis over two years. This deck compresses that.Prep2Go Oil Trader Pack is built for exactly this moment.What's inside211 cards across three blocks:Block 1 — Universal Trading Foundation (102 cards) The mechanics every commodity trader needs regardless of what they trade. Pricing, Incoterms, hedging, trade finance, project finance, market structure. The vocabulary that underlies all physical markets.Block 2 — Oil Markets (58 cards) From crude grades and benchmarks to refinery economics, OPEC dynamics, tanker trading, and derivatives. How physical crude is bought and sold. What moves prices. How producers, refiners, and traders each hedge differently.Block 3 — Freight & Shipping (51 cards) Vessel types and their routes. Worldscale and tanker rate mechanics. Charter parties. Demurrage. FFAs and freight hedging. LNG shipping. What drives tanker rates and why.Sample cardsQ: What is Dated Brent and how does it differ from Brent futures? A: Physical spot price for actual BFOE cargoes loading in the North Sea within 10–25 days forward. Published by Platts. The physical anchor for the entire Brent complex. Example: Dated Brent = cash price for real barrels. ICE Brent futures = paper contract. Most global crude supply contracts reference Dated Brent, not futures.Q: What is a crack spread? A: Difference between crude oil price and refined product prices — represents refinery's gross margin. 3-2-1 crack: 3 barrels crude → 2 barrels gasoline + 1 barrel distillate. Example: Crude $80/bbl, gasoline $95/bbl, diesel $100/bbl → 3-2-1 crack = (2×95 + 100 − 3×80) / 3 = $30/bbl gross margin.Q: How does the VLCC contango storage trade work? A: Buy physical crude at spot, simultaneously sell futures at higher forward price, store crude on VLCC. Profit = futures − spot − storage − financing. Locked in regardless of where prices go. Example: 2020 COVID — buy spot $20/bbl, sell 6M futures $35/bbl, storage $9, financing $0.50 → $5.50/bbl locked profit.Full card list includesPricing: spot, forward, contango, backwardation, basis, arbitrage, cost curve, marginal cost Incoterms: all 11 terms (EXW through DDP) + risk spectrum + Incoterms 2020 changes Hedging: futures, swaps, Asian options, 3-way collars, VaR, margin calls, FFAs, basis risk Trade finance: LC, bill of lading, RCF, prepayment financing, self-liquidating trades Crude grades: Brent, WTI, Dubai/Oman, ESPO, Urals, Arab Light/Heavy, API gravity, sweet vs sour Benchmarks: Dated Brent, Brent CFD, Brent-WTI spread, Saudi OSP, Platts MOC window Refining: Nelson Complexity Index, crack spread, FCC, coker, hydroskimming vs cracking, IMO 2020, RBOB, ICE gasoil Trading: physical cargo mechanics, term contracts, paper vs wet barrel, floating storage Supply: OPEC+, spare capacity, US shale, rig count, NOC vs IOC, upstream/midstream/downstream Demand: demand destruction, gasoline seasonality, jet fuel, EV impact Derivatives: ICE Brent futures, NYMEX WTI, oil swaps, Asian options, producer hedging Vessels: VLCC, Suezmax, Aframax, MR tanker, LNG carrier, FSRU Tanker operations: Worldscale, dirty vs clean, ton-mile demand, fixture, NOR, demurrage, bunkers FFAs: mechanics, settlement routes, freight options, market participantsFAQ Is this official exam material?No. Independent study aid — not affiliated with, endorsed by, or sponsored by the exam provider. Does this guarantee I will pass?No. The deck improves retention and exam readiness; your results depend on how consistently you study. Can I use it on my phone?Yes. Import the .apkg on Anki desktop, then sync to AnkiMobile (iOS) or AnkiDroid (Android). What file format is delivered?Digital download: Anki-compatible .apkg file through Gumroad. Refunds?Digital download — all sales final.Also available in a bundle: Ultimate Commodity Trader Anki Pack (METAL + OIL + COAL) — save vs buying separately.