The London Crowd

Adi Imsirovic () and Colin Bryce ()
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Adi Imsirovic: Surrey Clean Energy
Colin Bryce: Energex Partners

Chapter Chapter 5 in The Rivers of Money, 2025, pp 69-90 from Springer

Abstract: Abstract This chapter looks into the transformative period of oil trading during the late 1970s and early 1980s, focusing on the impact of geopolitical events such as the Iranian Revolution and the Iran-Iraq War on oil prices and market dynamics. It explores the shift from long-term contracts to spot trading, highlighting the rise of the ‘15-Day Brent’ market and the role of key players like Shell and BP in its development. The narrative also covers the emergence of the New York Mercantile Exchange (NYMEX) and its influence on global oil price discovery. The chapter provides insights into the colourful personalities and diverse backgrounds of traders in London and New York, emphasizing the unique culture and social dynamics of the oil trading community. Additionally, it addresses the challenges faced by women in the industry and their contributions to its evolution. Through detailed anecdotes and historical context, the chapter paints a vivid picture of the oil trading revolution and its lasting impact on the market.

Keywords: Iranian revolution; 15-day Brent; NYMEX; Futures markets (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-91806-3_5

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DOI: 10.1007/978-3-031-91806-3_5

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