Trader in a futures pit that executes trades solely for his own account.
An exchange member who executes orders for futures contracts in the trading pit.
A thermal cracking process which converts heavy hydrocarbons such as crude oil, tar sands bitumen, and distillation residues into light hydrocarbons. Feedstocks can be any pumpable hydrocarbons including those containing high concentrations of sulfur and metals.
Represents crude oil production on leases, natural gas liquids production at natural gas processing plants, new supply of other hydrocarbons/oxygenates and motor gasoline blending components, and fuel ethanol blended into finished motor gasoline.
Any of the raw or semifinished materials which move to the various units of a refinery or petrochemical plant. Crude is a feedstock, but the term is mainly used to describe raw materials after the distillation process which in turn go on to more sophisticated units at the refinery. VGO, catfeed, naphtha, condensate and straight run residual fuel are commonly referred to as feedstocks.
Shipments of crude oil and petroleum products from the 50 States and the District of Columbia to foreign countries, Puerto Rico, the Virgin Islands, and other U.S. possessions and territories.
Another means of making delivery in the futures market. EFP’s would allow for a delivery of physical product that doesn’t necessarily conform to NYMEX specifications (delivery at say, Baltimore). Terms can vary across a broad spectrum including location, time, and product specifications.
An olefinic hydrocarbon recovered from refinery processes or petrochemical processes. Ethylene is used as a petrochemical feedstock for numerous chemical applications and the production of consumer goods.
A generic term applied to a group of organic chemical compounds composed of carbon, hydrogen, and oxygen, characterized by an oxygen atom attached to two carbon atoms (e.g. methyl tertiary butyl ether).
An alcohol which is most often derived from corn. Ethanol is designed to be blended with gasoline to produce a cleaner burning fuel, and is an accepted oxygenate component for the oxygenated seasons mandated by the EPA.