The US, Saudi Arabia, and…
Precious metals, including gold, silver,…
S&P Global Platts has launched a commodities trading game that simulates oil trading in which players can compete for virtual profit for fun and learning.
The Market Masters game is free and available for Android and Apple phones and is inspired by real-world market dynamics.
Players have to guess if the price will rise or fall, by going long or short on the simulated price of oil, based on simulated supply and demand. The game is designed to take place in an imaginary trading period of one year, and players start the game with US$1 million in virtual money as an opening balance.
But rather than it taking a whole year to complete, the one-year simulation period is condensed into just several minutes that include extreme price movements during periods of high volatility, says S&P Global Platts, which in real life provides information and benchmark prices for the commodities and energy markets.
Players can also challenge each other and compete with all other players for the top spot on the leader board.
In this marketing move in an oil trading game, players use Platts’ demand, supply, and volatility insights, trade flow stories, and simulated real-time news and market alerts that influence supply, demand, and market volatility.
Related: Oil Rig Count Rises As Prices Recover
The oil trading game is designed to simulate oil trading, but players in the Market Masters are not actually trading on the oil market—the purpose of the game is entertainment and instruction, apart from the S&P Global Platts marketing pitch.
“To coincide with IP Week, we are pleased to launch our first commodities trading game and use the power of competition to engage our customers and other participants across the global commodities and energy markets in this simulation. It plays a serious role to help build the S&P Global Platts brand while also showcasing the benefits of our insights in a fun and engaging digital environment,” Zoe Mol, head of marketing at S&P Global Platts, said.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.