gasoline investment & finance definition
commodity product derived from crude oil; it is the largest refined product
sold in the U.S. and accounts for about half of national oil consumption.
Futures and options contracts on gasoline are traded on the New York Mercantile
Exchange based on New York harbor unleaded gasoline, a particular type of
gasoline. The futures contracts are based on delivery at petroleum products
terminals in the New York harbor, which is the major East Coast trading center
that handles much of the imported and domestic shipments. Trading also occurs
on other futures exchanges throughout the world.
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