A price level where a descending price movement is likely to encounter resistance.
The components of petroleum supply are field production, refinery production, imports, and net receipts when calculated on a PADD basis.
A yellowish nonmetallic element, sometimes known as brimstone. It is present at various levels of concentration in many fossil fuels whose combustion releases sulfur compounds that are considered harmful to the environment. Some of the most commonly used fossil fuels are categorized according to their sulfur content, with lower sulfur fuels usually selling at a higher price. Note: No. 2 Distillate fuel is currently reported as having either a 0.05% or lower sulfur level for on-highway vehicle use or a greater than 0.05% sulfur level for off-highway use, home heating oil, and commercial and industrial uses. This also includes Ultra Low Sulfur Diesel ( <15 ppm sulfur). Residual fuel, regardless of use, is classified as having either no more than 1% sulfur or greater than 1% sulfur. Coal is also classified as being low-sulfur at concentrations of 1% or less or high-sulfur at concentrations greater than 1%.
Usually applies to a gasoline that does not meet the 87 octane standard which most suppliers mandate for regular unleaded distinction. Sub-octanes are typically utilized by those using oxygenated components.
Petroleum stocks maintained by the Federal Government for use during periods of major supply interruption.
A vehicle with the cargo body and tractor mounted on the same chassis.
The purchase of one futures month against the sale of another futures month of the same commodity. A straddle trade is based on a price relationship between the two months.
Canadian term used to describe kerosene. Stove oil in Canada is the equivalent of U.S. low-sulfur No. 1 oil or kerosene.
A futures order designed to close out a losing position when the price reaches the specified level.
A limit order to purchase (sell) above (or below in the case of a sell order) if a certain stop price is reached. Stop limit orders to buy or sell are often a key feature when critical technical levels are breached or surpassed in the market.