University of Western Ontario
Behzad Ghafouri is a PhD candidate in financial modeling at the Department of Statistical and Actuarial Sciences at the University of Western Ontario. He has a master’s degree in Economics from the same institution. While working at the Royal Bank of Canada, he completed the three exams of the CFA program. His research interests are mathematical finance, operations research, and decision-making under uncertainty with special focus to applications in energy markets.
The goal of this paper is to explain and improve the offshore oil storage trade observed in a contango market using a forward dynamic optimization strategy. The strategy is developed using trades in forward contracts and contrasted with the literature.