Reformulated Blendstock for Oxygenate Blending Wikipedia

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• Reformulated blendstock for oxygenate blending (RBOB) is a grade of gasoline used in U.S. futures contracts traded on commodity exchanges as a way to speculate on the price of oil.
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• A single contract represents 42,000 gallons with a minimum fluctuation of $0.0001 per gallon.
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If ethanol is pushed through a pipeline, the water that it attracts will corrode the inside of the pipes. If it’s mixed with gasoline at the refinery, xor neural network every pipe and tank that it passes through will be subjected to higher levels of corrosion. Long ago, in the bad old days when our cars were big, fuel was cheap, and we actually put lead in the gasoline, there was conventional gasoline.

What It Means for Individual Investors

The prices of RBOB are directly correlated with crude oil, meaning that they will exhibit significant volatility that may be an attractive trait for many traders. Secondly, investments in gasoline can also be used to hedge against inflation, or simply to make a play on our global addiction to fossil fuels. Gasoline is a vital part of our everyday lives, and there is a strict need to consume no matter what economic conditions may be, making it an attractive investment during all kinds of markets. The refiner must remove light molecular weight, high RVP components, which changes the RFG’s distillation Crypto cfd characteristics. This requires the removal of some heavy molecular weight and high boiling point components as well.

Today in Energy

In the past, Middle East wars, oil embargos, political coups and acts of terrorism have created fears of supply disruptions and higher prices. Crude oil varieties and the technology available for refining them can lead to different gasoline products and pricing from one refinery to the next. These industrial facilities separate crude oil, which consists of different hydrocarbons, into smaller component hydrocarbons or fractions. Reformulated Blendstock for Oxygenate Blending (RBOB) gasoline is a fuel product made from refined crude oil.

Federal Reserve Economic Data

There are also options for energy-related ETFs focused on oil and natural gas. Whereas buying an RBOB future could cost thousands, shares of ETFs can cost less than $20. In the lead-up to summer, prices tend to rise in anticipation of peak driving season. Prices tend to fall in the winter when inclement weather keeps consumers off the roads.

As a result, weather events or supply congestion in that area can cause short-term delays or price spikes. RBOB gas contracts are traded on the Chicago Mercantile Exchange. You can get access to trading them through most brokerage firms and futures trading portals.

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The supply of gasoline depends on the availability of both crude oil and refineries. Industry watchers measure refiners by their capacity, which is the amount of crude oil that can go into distillation units. Conversely, inventories of distillate have fallen in November and are 5.8 million barrels lower than at the same time in 2017. The statistics for RBOB gasoline are not perfect due to the fact that production and consumption is measured by crude oil rather than gasoline itself. The figures below represent global consumption and production of crude oil, of which gasoline is derived. RBOB is more expensive to refine—more energy and more effort are required to pull some of the additional hydrocarbons out of the fuel.

While we refer to the liquid as “gasoline” in the U.S., many other parts of the world know it by the term “petrol”, or sometimes “petrogasoline”. From a chemical standpoint, this low-density fuel is very volatile due to its natural makeup and the numerous additives that can be mixed in, some of which include lead, ethanol, and dye. Edwin Drake was the first to discover RBOB gasoline but discarded it as a byproduct on his quest to refine crude oil into kerosene. The chart above shows the weekly average import volume, in thousands of barrels, of RBOB (with special blending components for blending with ethanol) into the PADD 1—Northeast area.

Trading in a current delivery month will cease on the last business day of the month preceding the delivery month. Still, if you consider both together, about 200,000 barrels of BOB are imported every day into the PADD 1 area. Lawsuits continued, and oil companies asked for transition assistance in the form of $2 billion review manias, panics, and crashes and liability protection while they phased out MTBE. That request did not survive congressional review, and the lack of MTBE liability protection quickly brought an end to its use. Well, let me introduce you to the two of them (and their cousin). Each of these products is recovered at different temperature points.

Listed contracts conduct trading throughout the next 36 consecutive months. Investors can also trade puts and calls on RBOB gasoline futures. Certain options strategies, like vertical spreads, have predefined profits and losses. Importantly, however, RBOB gasoline futures options do not see a great deal of trading activity, and this lack of liquidity makes these contracts less than ideal for aggressive options trading strategies. In investing, RBOB gas is the benchmark for gasoline on the futures market.