Senior Middle Distillates Trader

Senior Middle Distillates Trader

Eni S.p.A.

London, United Kingdom

At Eni, we are seeking a Senior Middle Distillates Trader to join Eni Trade & Biofuels (ETB) in London, UK. This position forms part of the Oil Trading business within ETB and reports to the Head of Middle Distillate, Heavies & Specialties, and Oil Derivatives Trading.

This role offers unparalleled exposure to the full commodity trading lifecycle - both physical and financial - through close collaboration with colleagues in our Front Office team, as well as with key functions including Risk, Finance, Back Office, and multiple business units. Crude oil and product trading is primarily based in ETB’s London office, with additional trading personnel located in Singapore and Houston. Under the supervision of the Team Manager, the successful candidate will contribute to the development and execution of Middle Distillates trading activities in alignment with ETB’s overall strategy.

Main responsibilities:

• Oversee a significant flow in the Med thanks to our strong portfolio and downstream commercial activities.
• Execute physical and paper trades in middle distillates to maximise P&L within defined risk parameters.
• Structure and execute arbitrage opportunities across regions and markets.
• Develop and implement proprietary trading strategies to capture arbitrage, hedging, and speculative opportunities, including spread trading, volatility strategies and arbitrage.
• Support business growth through new initiatives and ideas to ensure the organic and sustainable development of the desk.
• Monitor and hedge market exposures using futures, swaps and derivatives.
• Track market fundamentals, pricing trends, freight, refining margins and inventory levels.
• Analyse macroeconomic trends, geopolitical risks, and market sentiment to inform trading decisions.
• Utilise technical analysis, quantitative models, and real-time data to identify trading opportunities.
• Build and maintain strong relationships with refiners, trading houses and end users.
• Negotiate contracts, offtake agreements and term supply deals.
• Collaborate with operations, risk, finance, and credit teams to ensure smooth execution.
• Work closely with risk management to monitor exposures and adhere to position limits.
• Communicate market views, trade ideas and risk assessments to senior management.
• Guide and mentor Trading Analysts/Juniors, contributing to their professional development.
• Ensure all trading activity is always in compliance with relevant regulatory requirements and internal controls.

Skills and experience required:

• A degree in Engineering, Mathematics, Finance, Economics or a related field is preferred.
• Extensive experience in trading.
• Proven track record of delivering results and growing a trading desk.
• Strong understanding of futures, options, swaps and structured energy derivative products.
• Strong analytical and quantitative skills, with proficiency in trading platforms and financial modelling.
• Excellent negotiation, communication and interpersonal skills.
• Proven ability to work in a fast-paced, dynamic environment and make informed decisions under pressure.
• Solid understanding of risk management principles and regulatory requirements.
• High level of integrity and commitment to ethical standards.
• Strong team player.
• Experience working within a global and international organisation is preferred.
• Full command of the English language (written and spoken); knowledge of additional languages would be an asset.