A blend of finished motor gasoline containing alcohol (generally ethanol but sometimes methanol) at a concentration of 10% or less by volume. Data on gasohol that has at least 2.7% oxygen, by weight, and is intended for sale inside carbon monoxide nonattainment areas are included in data on oxygenated gasoline. See also Oxygenates.
Commonly, the European term used for diesel fuel and heating oil.
Measurement of volume in the oil industry (42 gallons = 1 barrel).
A deposit required of futures participants that guarantees assurance of performance. Funds are on hand to assure that the buyer or seller makes good on any losses that might accrue on his position. Margin deposits are a sort of futures performance bond.
A standardized contract for the future purchase or sale of a commodity on a formalized exchange.
Canadian term used to describe high-sulfur No. 2 oil. Furnace oil in Canada is the equivalent of our high-sulfur, off-road, or home heating oil.
Term which refers to the likeness or least interchangeability of a petroleum product. Material shipped on a pipeline must be fungible, i.e. have a common set of specifications acceptable to various shippers, and the same holds true for futures contracts. The less fungible the product, the less likely it is to succeed in the futures arena and the more problem it is likely to create in the distribution process. Various elements of the Clean Air Act have made several petroleum products less fungible.
Analysis derived from actual supply and demand factors such as inventories, refinery operations, physical buying patterns, or disruptions in the supply and distribution chain. Contrasts with technical analysis.
Pricing analysis based on supply and demand factors for any particular market.
A refining process for removing asphalt compounds from petroleum fractions, such as reduced crude oil. The recovered stream from this process is used to produce fuel products.