A light petroleum distillate that is used in space heaters, cook stoves, and water heaters and is suitable for use as a light source when burned in wickfed lamps. Kerosene has a maximum distillation temperature of 400 degrees Fahrenheit at the 10-percent recovery point, a final boiling point of 572 degrees Fahrenheit, and a minimum flash point of 100 degrees Fahrenheit. Included are No. 1-K and No. 2-K, the two grades recognized by ASTM Specification D 3699 as well as all other grades of kerosene called range or stove oil, which have properties similar to those of No. 1 fuel oil. See also Kerosene-Type Jet Fuel.
Someone who purchases refined products at the wholesale level and then transfers or resells the product at the retail level. The retail level sale/ transfer can occur at facilities owned by the jobber, independent dealers or commercial accounts; a term used to describe companies in the oil distribution chain that sell wholesale products.
A refining process which alters the fundamental arrangement of atoms in the molecule without adding or removing anything from the original material. Used to convert normal butane into isobutane (C4), an alkylation process feedstock, and normal pentane and hexane into isopentane (C5) and isohexane (C6), high-octane gasoline components.
A saturated branch-chain hydrocarbon. It is a colorless liquid that boils at a temperature of 156.2 degrees Fahrenheit.
An olefinic hydrocarbon recovered from refinery processes or petrochemical processes.
A normally gaseous branch-chain hydrocarbon. It is a colorless paraffinic gas that boils at a temperature of 10.9 degrees Fahrenheit. It is extracted from natural gas or refinery gas streams.
Intermodal Surface Transportation Efficiency Act of 1991.
Based in London, it is the European equivalent of the NYMEX. IPE operates an exchange which trades Brent and gasoil (heating oil) futures among other energy contracts.
Term that describes a rack market where unbranded prices move above branded prices due to a supply disruption or similar cause.
A firm that solely solicits or accepts orders for the purchase or sale of futures contracts or options.