Trade Finance / Oil & Gas Trading
Crude Oil, Diesel Fuel, fuel oil
Zenith, LLC is a global crude oil trader, trading above eight million barrels of crude oil every day. These oils are mostly high quality grades of low to medium density, with a low sulphur content.
Crude oil is a naturally occurring substance found in certain rock formations in the earth. To extract the maximum value from crude, it needs to be refined into petroleum products. The best-known of these is gasoline, or petrol. Others include liquefied petroleum gas (LPG), naphtha, kerosene, gas oil and fuel oil.
Oil wells are used to release the oil from within the earth. Some of the earliest developed oil wells were drilled in China using bamboo poles. These oil wells were developed in 347 A.D. for the sole purpose of providing enough fuel to create a thriving salt industry. By the 1950s, crude oil became a global energy source, which in effect killed the whaling industry by making whale oil obsolete.
In the crude oil industry, there are oil names (such as Brent Light Crude Oil and Bonny Light) and there are oil types (such as light, heavy, sweet and sour). Light oil has a low density viscosity, while heavy oil is of higher density. Sweet oil has less sulfur, and sour oil has excessive sulfur. The world market prefers light, sweet crude oil, largely because it requires less refinement and production time before going to market.
, Crude Oil
, Diesel Fuel
, fuel oil
, MT799 POF