An ether used in the blending of reformulated gasolines, affecting vapor pressure and octane level. Unlike ethanol, MTBE is fungible and will not separate out during shipment. There is no domestic market for MTBE, so any production is exported.
A light, volatile alcohol intended for gasoline blending as described in Oxygenate definition.
Oxygenate production facilities that are not associated with a petroleum refinery. Production from these facilities is sold under contract or on the spot market to refiners or other gasoline blenders.
See NYMEX (New York Mercantile Exchange).
An order to buy/sell a futures/options contract which won’t be executed until the close of trading that day. It will be executed at the best possible price within the closing minutes of the market.
A demand for initial or variation margin from a commission house to a customer and/or from the clearing house to a clearing member.
The funds deposited by a buyer or seller of a futures contract that ensure performance of the contract.
Substances used to reduce friction between bearing surfaces or as process materials either incorporated into other materials used as processing aids in the manufacture of other products, or used as carriers of other materials. Petroleum lubricants may be produced either from distillates or residues. Lubricants include all grades of lubricating oils from spindle oil to cylinder oil and those used in greases.
A shorthand reference commonly applied to propane, or liquid propane, which is used as a home heating and cooking fuel, and as a petrochemical feedstock.
Having an outstanding position where one has bought a futures contract or a wet bbl. A speculative long would be hopeful of a market increase. A lot of length in the wet or futures market could be descriptive of a market where too many buyers are holding inventory.