Crude and Oil Products

Middle Distillates and Fuel Oil

Our Middle Distillates and Fuel Oil team commenced trading in 1996. They arrange swaps and options in a wide range of refined products. These include high and low sulphur fuel, gasoil and heat cracks, jet, diesel and gasoil differentials.
These swaps and options enable producers and high volume consumers to hedge their portfolios. Over the last few years the liquidity created in these markets has led to increased participation from speculators.
The team covers the time zones operating from offices in London, Singapore and New Jersey.
Joe Hutchinson and Jonathan Mylne, who have led the team since 1999, are widely known and respected throughout the industry. They have successfully recruited individuals who have in depth product knowledge and years of experience in the oil industry.

Desk Contacts:

	Joe Hutchinson - Middle Distillates and Fuel Oil Joe career in the City began in 1991 trading options on the International Petroleum Exchange. In the next eight years he gained extensive experience in all aspects of the oil industry with leading City institutions In 1999 Joe teamed up with Jonathan Mylne to become joint desk head of ICAP Middle Distillates and Fuel Oil desk.
	Jonathan Mylne - Middle Distllates and Fuel Oil Jonathan has worked in the oil industry for 20 years. He spent 6 years working at the International Petroleum Exchange before moving into the OTC broking world. He joined ICAP Middle Distillates and Fuel Oil team in 1999.

Nour Beyhum Phone:   +44 207 532 4227 Email:   nour.beyhum@icap.com Office:   London, UK

Michael DeSantis Phone:   +1 203 761 1180 Email:   michael@unitedcrude.com Office:   Wilton, CT