Glossary of Bulk Oil Terms


Posted by Alexa Ketterling

Aug 8, 2018 3:49:04 PM

A product that is uniform and consistent throughout a particular market, that has pricing based on a set market baseline, like the Chicago Board of Trade (CBOT), and can be reserved/booked out into the future.  These market baselines like the CBOT take into account both supply and demand, as well as other environmental and political aspects that may affect pricing.