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RBOB Gasoline 
 

New York Harbor RBOB Gasoline (Physical) futures are an outright gasoline contract between a buyer and a seller. The contract:

  • Is based on the largest single volume refined product sold in the United States - gasoline - which accounts for almost half of national oil consumption
  • Trades in a highly diverse market, with hundreds of wholesale distributors and thousands of retail outlets, resulting in intense competition and price volatility

Things to know:

  • Based on delivery at petroleum products terminals in New York Harbor, the major East Coast trading center for imports and domestic shipments from refineries in the New York harbor area or from the Gulf Coast refining centers
  • Traded via open outcry and electronically on CME Globex
  • Trading at settlement is available for the front two months except on the last trading day and is subject to the existing TAS rules
  • Option types:  American-style, calendar spread, crack spread, average price, European-style

About New York Harbor RBOB Gasoline
New York Harbor RBOB Gasoline conforms to industry standards for reformulated regular gasoline blendstock for blending with 10% denatured fuel ethanol (92% purity) as listed by the Colonial Pipeline for fungible F grade for sales in New York and New Jersey. RBOB is a wholesale non-oxygenated blendstock traded in the New York Harbor barge market that is ready for the addition of 10% ethanol at the truck rack.

To ensure that the terms and conditions of the gasoline futures contract continue to mirror the cash market, the Exchange maintains close contact with federal and state officials and continues to evaluate changes in the regulations.

Along with the futures contracts, options contracts, calendar spread options contracts, crack spread options contracts, and average price options contracts provide a slate of flexible, liquid financial instruments. Exotic options contracts are offered as well, under the calendar spread option, average price option, crack spread option, European “look alike” option, and conventional gasoline vs. RBOB option.

The Exchange also lists for trading a series of gasoline swap futures contracts based on crack spreads and location differentials, including European and average price options. Transactions in these contracts can also be consummated off-exchange and submitted for clearing through CME ClearPort clearing.

 
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