Markets Home

Active trader

Hear from active traders about their experience adding CME Group futures and options on futures to their portfolio.

Find a broker

Search our directory for a broker that fits your needs.

CREATE A CMEGROUP.COM ACCOUNT:

MORE FEATURES, MORE INSIGHTS

Get quick access to tools and premium content, or customize a portfolio and set alerts to follow the market.
Market Data Home

Real-time market data

Stream live futures and options market data directly from CME Group.

E-quotes application

Access real-time data, charts, analytics and news from anywhere at anytime.

CME DATAMINE:

THE SOURCE FOR HISTORICAL DATA

Explore historical market data straight from the source to help refine your trading strategies.
Services Home

Uncleared margin rules

Understand how CME Group can help you navigate new initial margin regulatory and reporting requirements.

Calculate margin 

Evaluate your cleared margin requirements using our interactive margin calculator.
Education Home

FX Insights from Macro Hive

Receive exclusive insights on key FX macro themes, volatility trends, and market events through our bi-weekly report.

Create a CMEGroup.com Account: More features, more insights

Get quick access to premium educational content, including expert-led webinars, a real-time trading simulator, and more.
      Course Overview
      • A Look into the Refining Process
      • RBOB Product Overview
      • Learn about the 1:1 Crack Spread
      • Heating Oil Product Overview
      Introduction to Refined Products
      You completed this course.Get Completion Certificate

      RBOB Product Overview

      Video not supported!

      About RBOB Gasoline Futures

      CME Group’s RBOB gasoline futures contract, ticker symbol RB, allows market participants the opportunity to profit from or hedge against the price movements of the most important refined byproduct of crude oil. 

      As the primary fuel for most automobiles on the road, gasoline is an integral commodity to the lives of most consumers. 

      Though the current RBOB contract is not delivered in a state ready for automotive consumption, it still trades in a manner that reflects gasoline demand because local markets purchase RBOB and then add their own additives required by their respective regulations. 

      CME Group’s RBOB contract offers a way for investors to profit or hedge against one’s outlook on crude oil, weather, consumer behavior and regulatory action in terms of current and future energy consumption.

      The Contract

      Each CME Group RBob futures contract represents 42,000 gallons of heating oil with a minimum price fluctuation of $.0001 per gallon, or $4.20 per contract.  The contract trades Sunday-Friday from 6:00pm-5:00pm est with a daily 60-minute break at 5:00pm est.

      Supply and Demand

      Traders of RBOB monitor multiple factors in order to best position themselves in the market. Obviously, as gasoline is a byproduct of crude oil, all RBOB traders keep close watch on the price of WTI or Brent due to the tight price correlation between the two products. 

      It’s important to note that RBOB’s price is sensitive to any extreme weather that could take refineries located in the Gulf region offline.  In addition, driving behavior of the public predictably impacts the contract’s price and often follows seasonal trends: the strength of “summer driving season” dominates the discourse on the trade for much of the year. 

      Overall, as the entire energy complex is tightly bound up with environmental concerns, RBOB can swing with the imposition of new regulations and the introduction of new, cleaner energy sources.


      Learn more about CME Group’s Energy products.


      Test your knowledge

      Related Courses
      /content/cmegroup/en/education/courses/introduction-to-refined-products/rbob-product-overview
      • {{ course.name }}
      Previous Lesson
      Next Lesson
      Course Overview
      Get Completion Certificate
      Previous Lesson Next Lesson
      • YouTube
      • Twitter
      • Facebook
      • LinkedIn
      • Instagram
      • Rss

      CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
      Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

      © 2021 CME Group Inc. All rights reserved.

      Disclaimer  |  Privacy Policy  |  Cookie Policy  |  Terms of Use  |  Data Terms of Use  |  Modern Slavery Act Transparency Statement  |  Report a Security Concern