Bitumen

Brent crude is the leading global price benchmark for Atlantic basin crude oils. Extracted from the North Sea, it serves as the reference price for approximately two-thirds of the world's internationally traded crude oil supplies. Brent is a light, sweet crude prized for its relatively low sulfur content and ease of refining.

West Texas Intermediate is the primary benchmark for North American crude oil pricing. WTI is a light sweet crude with an API gravity of around 39.6 and sulfur content below 0.24%, making it ideal for gasoline refining. It is delivered and priced at Cushing, Oklahoma.

Diesel and gasoil are middle-distillate refined products used extensively in transportation, heating, and industrial power generation. European gasoil (EN 590) is a key benchmark traded on ICE, while ultra-low sulfur diesel (ULSD) dominates markets with strict emissions regulations.

Fuel oil is a heavy residual product of crude oil refining, used primarily in marine bunkering, power generation, and industrial heating. The IMO 2020 regulation shifted demand toward very-low-sulfur fuel oil (VLSFO), while high-sulfur fuel oil (HSFO) remains traded for scrubber-equipped vessels.

Jet fuel, primarily Jet A-1, is a kerosene-type aviation turbine fuel meeting stringent international specifications for flash point, freeze point, and thermal stability. Global demand exceeds 300 million metric tons annually, driven by commercial and military aviation.

Liquefied Petroleum Gas is a versatile hydrocarbon fuel comprising propane and butane, used in residential cooking, heating, petrochemical feedstock, and automotive fuel. LPG is transported in pressurized vessels and traded on both spot and term-contract bases from major Middle Eastern and US producers.