This book covers the concepts of doing business of crude oil. This first edition volume will help the reader to put in place the crude oil trading strategies in the global markets ensure that the oil trading derivatives programs achieves its goals and does not add unexpected or unwanted risks to the oil companies. This book broadly covers the following contents: Overview of Global Oil Business; Roles of Shipping and Freight in Oil Trading; Trading of Oil in Global Market; Risk Management in Oil Industry; Upstream Oil Contracts. The readers will also get an inside to the financial energy markets particularly crude oil and its global business operations. In this book you will find fact, flavors and formula, each is a key element in running a successful financial risk strategy, integrated with the company’s management goals. Therefore, this is a book to be read by Researchers, Students, oil traders and by the experts of financial and trading companies dealing in the crude oil business. Broadly, this book covers the concepts of crude oil business and the role of freight & shipping in the crude oil business.