
How Marc Rich Revolutionized the Oil Market with Spot Trading
Marc Rich, a commodities trader, is known for creating the spot oil market in the 1970s. He recognized that there was a gap in the market for immediate delivery of oil, which led him to develop a new way of trading crude oil. Rich’s innovative approach to oil trading disrupted the traditional model of long-term contracts and established a new market that allowed for more flexibility and efficiency.








