European Gasoil

European Gasoil is a definition for Nº 2 Heating Oil and Nº 2 Diesel fuel. It is used as the pricing reference for all distillate trading in Europe and beyond. The underlying physical market is heating oil barges delivered in ARA (Antwerp, Rotterdam, Amsterdam).

European gasoil futures are traded at the NYMEX under ticker symbol 7F. Contract size is 100 metric tons quoted in US dollars and cents per metric ton. Contract is settled financially.

European gasoil futures are also traded at the ICE Europe under ticker symbol G. Contract size 100 metric tons quoted in US dollars and cents per metric ton. Contract settled with physical delivery, to barge or by in-tank or inter-tank transfer, within the within the ARA (Antwerp, Rotterdam, Amsterdam) area. Delivery by volume is 118.35 cubic metres per lot being the equivalent of 100 tons of gasoil at a density of 0.845 kg/litre in vacuum at 15°C.

See also:

• Oxford Institute for Energy Estudies – European Gas Oil Markets: Price Relationships, Hedging and Efficiency
• Bloomberg – European Gasoil Contango Narrows on Russian, Libyan Disruption