A book review by Nicholas Newman 7 October 2012
Sometimes, you can be at a meeting and you have no idea what they are talking about. This is especially the case with the specialised technical business dialect used by oil traders. For instance, do you know what ‘AAA’, ‘going long’ or even ‘lay days’ means?
You will need to know at least some of these terms when you are involved in sending crude oil from Brazil to Germany via a large oil tanker across the Atlantic to Rotterdam, where it is refined and the resultant products are barged up the Rhine to a terminal in Frankfurt.
Well, ‘AAA’ in this case does not stand for the American Automobile Association but Stefan van Woenzel defines ‘AAA’ as the American Arbitration Association, which provides recognised independent arbitration services between clients. http://www.oxfordprospect.co.uk/The-Oil-Traders’-Word(S)-Oil-Trading-Jargon.html