Specially produced reformulated gasoline blendstock intended for blending with oxygenates downstream of the refinery where it was produced. Includes RBOB used to meet requirements of the Federal reformulated gasoline program and other blendstock intended for blending with oxygenates to produce finished gasoline that meets or exceeds emissions performance requirements of Federal reformulated gasoline (e.g. California RBOB and Arizona RBOB). Excludes conventional gasoline blendstocks for oxygenate blending (CBOB).
An intermediate product derived from crude and natural gas processing that is used in production of a wide range of products, including plastics. Also the facility that processes these intermediate products. Petrochemical plants are often integrated with major refineries.
Also referred to simply as a “put.” Refers to an option which gives the buyer the right, but not the obligation, to sell a futures contract at a specified strike price.
Propylene that is intended for use in nonfuel applications such as petrochemical manufacturing. Nonfuel use propylene includes chemical-grade propylene, polymer-grade propylene, and trace amounts of propane. Nonfuel use propylene also includes the propylene component of propane/propylene mixes where the propylene will be separated from the mix in a propane/propylene splitting process. Excluded is the propylene component of propane/propylene mixes where the propylene component of the mix is intended for sale into the fuel market.
An olefinic hydrocarbon recovered from refinery processes or petrochemical processes.
A normally gaseous straight-chain hydrocarbon. It is a colorless paraffinic gas that boils at a temperature of -43.67 degrees Fahrenheit. It is extracted from natural gas or refinery gas streams. It includes all products designated in ASTM Specification D1835 and Gas Processors Association Specifications for commercial propane and HD-5 propane.
Pipeline authorizations transferring title to a set quantity of product at a specific location to another shipper.
Designates a spot market delivery that must be made in the next few days as stipulated by the contract.
OPIS prices labeled as prompt current month represent transactions for product that buyer and seller agree will be delivered within the next 48 hours.
Term used in reference to wet bbl delivery timetable. OPIS prices recognize the prompt timeframe as signifying delivery in the earliest possible pipeline cycle slot, or for waterborne pickup of material available in the next 24-72 hours.