Commodities form a specific asset class, differing significantly from equity, bonds and currencies. Commodity and energy markets differ a lot from the classical financial markets, because of their physical nature. Consequently, capital markets, credit markets, money markets and FX markets are structured in another way. Next, investors in commodities do not get afinancial compensation, whereas investing in shares may bring dividend, bonds yield a coupon rate, currencies provide interest as reward and real estate returns rent. Furthermore, the pricing of commodities and energy is relatively complex. It requires expertise and that is why specialisation is crucial. The value chain needs to mastered, else understanding the market or a price development is impossible. Knowledge about technical aspects is of utmost importance, but besides physical flows, financial flows have to be pictured. In addition, legal aspects and regulations impact the business significantly; amongst others, politics plays a crucial role. Political agendas drive commodity and energy markets more than any other market.