Reformulated Blendstock for Oxygenate Blending
Reformulated Blendstock for Oxygenate Blending (RBOB) is a gasoline futures contract traded on the New York Mercantile Exchange (NYMEX). It is the benchmark futures contract for wholesale gasoline in the United States.[1]
History
[edit | edit source]Edwin Drake was the first to discover RBOB gasoline but discarded it as a byproduct on his quest to refine crude oil into kerosene.[citation needed]
Composition
[edit | edit source]RBOB gasoline is a blend of hydrocarbons suitable for use in Spark-ignition engines. It typically contains various additives, including oxygenates like ethanol or methyl tertiary butyl ether (MTBE), to improve octane rating and reduce air pollution.[2]
Refining
[edit | edit source]RBOB is refined from crude oil and about half of the crude oil is refined into RBOB gasoline, therefore RBOB tracks the price of WTI crude closely.[3]
See also
[edit | edit source]References
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