Fuel is the key driver in the oil market. The story of how diesel and gasoline reach the pump, and who traded it on the way, has shifted dramatically over the past 30 years. Producers, traders and retailers have ebbed up and down the value chain on the tides of margin, volatility and market efficiency. In that journey, trading teams in the US and Europe have been built and shed. As such, it’s a story that is a microcosm of many stories of many commodities over the past 30 years. In Part 1 of this two part series, our guest Doug Haugh takes us through the strategies, conditions and outcomes of the market participants and brings us to the present day and the challenges the retail fuel space faces. Doug has been at the forefront of these changes throughout his career, including latterly as President of Parkland USA, the fastest growing fuel retailer in North America.