What it is
The middle part of what a refinery makes from crude oil. It powers lorries, trains, farm machinery and many ships, and in some places heats buildings. In Europe the traded grade is called gasoil.
How it is usually quoted
US dollars per tonne in Europe; US dollars per gallon in the United States.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
ICE Futures Europe for gasoil; the United States reference is the CME (NYMEX) contract described under heating oil.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- The price of crude oil
- Refinery capacity and unplanned stoppages
- Road freight and industrial activity
- Heating demand in winter
- Inventories at the main storage hubs
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Refined wherever there are refineries. The US Gulf Coast, the Middle East and India are large exporters.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Diesel and gasoil is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.