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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 ...
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 ]
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 ...
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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]
Vaseline (/ ˈ v æ s ə l iː n /) [1] [2] [note 1] is an American brand of petroleum jelly-based products owned by British multinational company Unilever. [3] Products include plain petroleum jelly and a selection of skin creams, soaps , lotions , cleansers, and deodorants .
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha.
Petroleum jelly, petrolatum (/ ˌ p ɛ t r ə ˈ l eɪ t ə m /), white petrolatum, soft paraffin, or multi-hydrocarbon, CAS number 8009-03-8, is a semi-solid mixture of hydrocarbons (with carbon numbers mainly higher than 25), [1] originally promoted as a topical ointment for its healing properties. [2]