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Liquefied petroleum gas, also referred to as liquid petroleum gas (LPG or LP gas), is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, n-butane and isobutane. It can sometimes contain some propylene , butylene , and isobutene .
Because of its excellent liquidity and price transparency, the contract is used as a principal international pricing benchmark. The first futures contracts on crude oil were traded in 1983, with the Chicago Board of Trade (CBOT) and the New York Mercantile Exchange (Nymex) both attempting to take advantage of the government's de-regulation of ...
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
WASHINGTON (Reuters) -The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million ...
In the U.S., most consumer goods bear pre-tax prices, but gasoline prices are posted with taxes included. Taxes are added by federal, state, and local governments. As of 2009 [update] , the federal tax was $0.049 per liter ($0.184/U.S. gal) for gasoline and $0.064 per liter ($0.244/U.S. gal) for diesel (excluding red diesel ).
It is the fumes of liquid fuels that are flammable instead of the fluid. Most liquid fuels in widespread use are derived from fossil fuels; however, there are several types, such as hydrogen fuel (for automotive uses), ethanol, and biodiesel, which are also categorized as a liquid fuel. Many liquid fuels play a primary role in transportation ...
Upon achieving its full capacity in 2012, the Pearl GTL will convert 1.6 billion cubic feet per day (45 × 10 ^ 6 m 3 /d) of natural gas into 140,000 barrels per day (22,000 m 3 /d) of petroleum liquids and 120,000 barrels of oil equivalent (730,000 GJ) into natural gas liquids and ethane.
Fire crews have contained a large fire at a refinery storage tank in Garyville, Louisiana, about 40 miles west of New Orleans, authorities said.