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News & insights

Plain-English commentary on the physical markets we operate in, and news from the Royal Neft group. General market information only, not investment or trading advice.

LatestMarket structure

Reading the Brent–gas oil crack: what it means for physical buyers

For a physical distillate buyer the outright crude price is only half the story. The crack spread tells you where diesel supply, and prices, are heading next.

· 1 min read · Royal Neft trade desk

“The crack is a refiner's margin, but it is also a buyer's early warning system.”

  • Brent
  • Gas oil
  • Crack spread
  • Diesel
Trade mechanics

Incoterms for physical cargo: FOB, CFR and CIF explained

Every physical trade is quoted on an Incoterm that defines exactly where risk and cost pass from seller to buyer. Here is what FOB, CFR and CIF mean in practice for oil and petrochemical cargoes.

1 min read

These notes are general market education and commentary prepared by Royal Neft Trading FZE. They are not investment, financial or trading advice.

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