As part of Blackhawk’s close group of family and friends; and to set the record straight, I thought I’d share with you those important tips you need to know if you’re actively involved in oil derivatives transactions in the physical commodities trading world.
As you may or may not know, the reality today is that oil buyers are a dime a dozen, real fuel is the issue. The secondary market is for the most part composed of “fake offers” around the world doing a circle jerk on the Internet as people who have the real oil already know where to sell it.
By the same token, no Major or legitimate buyer will issue a LOI, ICPO, nor will they issue any POF or pre advise of any kind, ever before seeing POP. Hence, our Modus Operandi is and has always been very simple: Prove the product, send an invoice, we will close it! Very simple…..We will also sell under the exact same circumstances. The exception is an unknown buyer to us where we’ll have to Swift an RWA to prove financial capability.