Trader

A trader is seen as an ‘intermediary’ in a deal who does take title and risk for the product, even if only for a very short time. Technically of course a Trader is not an intermediary, as they are legally principals in two deals as they buy the oil from the suppliers and then sell to the end user or another trader, which legally is a separate deal. The trader takes the credit and quality risks for their own account, unlike a broker who takes no risk.