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Refined petroleum products destined for retail consumption is transferred to bulk terminals by pipeline, barge, or rail. From the bulk terminal, the product is usually trucked to the retail outlets. As of February 2014, there were 153,000 service stations selling motor fuel in the US, including garages, truck stops, convenience stores, and marinas.
Petroleum [a] is a naturally occurring yellowish-black liquid mixture. It consists mainly of hydrocarbons, [1] and is found in geological formations. The term petroleum refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refined crude oil.
Petroleum products are materials derived from crude oil as it is processed in oil refineries. Unlike petrochemicals , which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. [ 1 ]
The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet.
Petroleum is a naturally occurring liquid found in rock formations. It consists of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds. It is generally accepted that oil is formed mostly from the carbon rich remains of ancient plankton after exposure to heat and pressure in Earth 's crust over hundreds ...
Sweet crude oil is a type of petroleum. The New York Mercantile Exchange designates petroleum with less than 0.5% sulfur as sweet. [1] [2] Petroleum containing higher levels of sulfur is called sour crude oil. [3]
ASTM merged this grade into the number 2 specification, and the term has been rarely used since the mid-20th century. [8] Number 4 fuel oil is a commercial heating oil for burner installations not equipped with preheaters. [8] It may be obtained from the heavy gas oil cut. [7] This fuel is sometimes known by the Navy specification of Bunker A.