United States 12 Month Oil Fund Lp's Comment on Sales, Marketing and Customers
Petroleum-based fuel futures contracts serve markets for light, sweet crude oil, diesel-heating oil, and gasoline. Refiners favor light, sweet crude oil due to its low sulfur content and high yields of gasoline, diesel fuel, diesel-heating oil, and jet fuel. Demand for petroleum products originates from consumers as well as agricultural, manufacturing, and transportation industries. Diesel-heating oil futures contracts are based on delivery in the New York harbor, a principal cash market center. Gasoline futures contracts, representing the largest refined product in the U.S., are based on delivery at petroleum product terminals in the New York harbor, a major East Coast trading hub for imports and domestic shipments. Market participants include ICE Futures Europe, ICE Futures Exchange, NYMEX, and the Organization of Petroleum Exporting Countries.
United States 12 Month Oil Fund Lp’s Comment on Sales, Marketing and Customers
Petroleum-based fuel futures contracts serve markets for light, sweet crude oil, diesel-heating oil, and gasoline. Refiners favor light, sweet crude oil due to its low sulfur content and high yields of gasoline, diesel fuel, diesel-heating oil, and jet fuel. Demand for petroleum products originates from consumers as well as agricultural, manufacturing, and transportation industries. Diesel-heating oil futures contracts are based on delivery in the New York harbor, a principal cash market center. Gasoline futures contracts, representing the largest refined product in the U.S., are based on delivery at petroleum product terminals in the New York harbor, a major East Coast trading hub for imports and domestic shipments. Market participants include ICE Futures Europe, ICE Futures Exchange, NYMEX, and the Organization of Petroleum Exporting Countries.
Sources:
United States 12 month Oil Fund Lp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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