The westernmost peninsula of Eurasia, Europe is bordered by the Arctic Ocean to the north, the Black Sea to the southeast, the Mediterranean Sea to the south and the Atlantic Ocean to the west. The economic and political association of 27 European member states, the European Union (EU) has developed a single market through which a standardized system of laws apply, and under this union, sixteen member states have adopted the euro as its common currency. In 2006, the EU had a gross inland energy consumption of 1,825 million tonnes of oil equivalent, with nuclear energy as the primary source of energy produced in the region. Currently, the EU imports around 82% of its oil and 57% of its natural gas resources.
Energy or Commodity Trading is the buying and selling of goods, rather than traditional stocks. In oil and gas, these commodities include crude oil, gasoline, heating oil and natural gas. The Energy Trader will take a position on future markets, and buy and sell energy contracts based on forecasted economic trends. The commodity trader will deal predominantly in contracts, moving them on before they mature, meaning actual delivery of the commodity is a rare occurrence.