If you have an exceptional trading skills and wants to take chances to become a commodity broker, then becoming an oil trader is something to consider. Read on for the job description of an oil trader.
An oil trader is a commodity broker who buys and sells various commodities which includes coffee, grain, non-ferrous metals, gas and sugar. They are brokers with specializations in buying and selling crude oils.
Oil traders are usually employed at any investment banks, commodity broker companies and in clearing and exchanges houses. They typically work 40 hours per week or more under a stressful condition. They also make some split second decision that may lead to a lost or profit of millions of dollars.
Qualifications needed in becoming an oil trader include a bachelor’s degree in finance, accounting, business or economics. A suitable way to gain entry-level in this particular job is to work as summer interns that mostly lead to full-time work for successful candidates. Higher positions in trading are achieved if candidates hold a master’s degree in business administration or MBA.
According to United States Bureau of Labor Statistics (BLS), the demand for oil traders is expected to increase by 9% faster than the average careers in United States. Oil traders earn about $85,580 per annum.
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