A distillate used for home or commercial heating. Widely used as a synonym for No. 2 home heating oil.
Large volume transactions (from 25,000 barrels to full tankers of petroleum products) bought or sold for a stipulated delivery in the near future. Although this market might entail several pipeline or waterborne transaction points in the Texas and Louisiana area, unless specified otherwise, it reflects the delivery of the product the same month at a Pasadena, Texas, origin on Colonial Pipeline. Gulf Coast barrels can also move into the Midwest via the TEPPCO Enterprise Pipeline.
Non-certified foreign refinery gasoline classified by an importer as blendstock to be either bl ended or reclassified with respect to reformulated or conventional gasoline. GTAB is classified as either reformulated or conventional based on emissions performance and the intended end use.
Spot market vernacular for a Midwest delivery. It specifically entails delivery of finished products along key pipelines serving the Midwest markets from the Gulf Coast through the Plains States of Oklahoma, Missouri, Kansas, Iowa, Nebraska, Minnesota, South Dakota and North Dakota. Group 3 is the oil refining and distribution system serving these markets.
Total input to atmospheric crude oil distillation units. Includes all crude oil, lease condensate, natural gas plant liquids, unfinished oils, liquefied refinery gases, slop oils, and other liquid hydrocarbons produced from tar sands, gilsonite, and oil shale.
An average of all suppliers, calculated without the deduction of any pre-payment terms.
Price not inclusive of prompt payment discounts.
A global automated trade execution system (see electronic trading) created by the Chicago Merc and Reuters. The New York Mercantile Exchange approved the implementation of this system to supplement pit trading after hours.
Naphthas which will be used for blending or compounding into finished aviation or motor gasoline (e.g. straightrun gasoline, alkylate, reformate, benzene, toluene, and xylenes). Excludes oxygenates (alcohols, ethers), butane, and natural gasoline.
A complex mixture of relatively volatile hydrocarbons with or without small quantities of additives, blended to form a fuel suitable for use in sparkignition engines. Motor gasoline, as defined in ASTM Specification D 4814, is characterized as having a boiling range of 122 to 158 degrees F at the 10-percent recovery point to 365-374 degrees F at the 90-percent recovery point.
- Conventional gasoline: Finished motor gasoline not included in the oxygenated or reformulated gasoline categories. Note: This category excludes reformulated gasoline blendstock for oxygenate blending (RBOB) as well as other blendstock.
- OPRG: “Oxygenated Fuels Program Reformulated Gasoline” is reformulated gasoline which is intended for use in an oxygenated fuels program control area.
- Oxygenated gasoline (including gasohol): Oxygenated gasoline includes all finished motor gasoline, other than reformulated gasoline, having oxygen content of 2.0% or higher by weight. Gasohol containing a minimum 5.7% ethanol by volume is included in oxygenated gasoline. Oxygenated gasoline was reported as a separate product from January 1993 until December 2003 inclusive. Beginning with monthly data for January 2004, oxygenated gasoline is included in conventional gasoline. Historical data for oxygenated gasoline excluded Federal Oxygenated Program Reformulated Gasoline (OPRG). Historical oxygenated gasoline data also excluded other reformulated gasoline with a seasonal oxygen requirement regardless of season.
- Reformulated gasoline: Finished gasoline formulated for use in motor vehicles, the composition and properties of which meet the requirements of the reformulated gasoline regulations promulgated by the U.S. Environmental Protection Agency under Section 211(k) of the Clean Air Act. It includes gasoline produced to meet or exceed emissions performance and benzene content standards of federal-program reformulated gasoline even though the gasoline may not meet all of the composition requirements (e.g. oxygen content) of federal-program reformulated gasoline. Reformulated gasoline excludes Reformulated Blendstock for Oxygenate Blending (RBOB) and Gasoline Treated as Blendstock (GTAB). Historical reformulated gasoline statistics included Oxygenated Fuels Program Reformulated Gasoline (OPRG).
- Reformulated (blended with ether): Reformulated gasoline blended with an ether component at a terminal or refinery to raise the oxygen content.
- Reformulated (blended with alcohol): Reformulated gasoline blended with an alcohol component (e.g. fuel ethanol) at a terminal or refinery to raise the oxygen content.
- Reformulated (non-oxygenated): Reformulated gasoline without added ether or alcohol components.