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IPE Gas Oil futures
IPE Gas Oil futures definition - finance
The
first futures contract launched by the London-based International Petroleum
Exchange (IPE) in 1981. It has evolved into a benchmark for spot middle
distillate oil across northwest Europe. In the United States, gas oil is often
referred to as heating oil. The contract is traded on the IPE floor using open
outcry trading. Physical delivery for the contract occurs near Amsterdam,
Rotterdam, and Antwerp; however, most contract users employ the contract as a
financial mechanism to protect against losses and close out their positions
before they have to deliver or receive the gas oil. The options contract is
based on the underlying IPE futures contract.
Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
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