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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Gasoline Sing 92 E/W Gasoline Asia/Europe – Commodity Differential CFD

Sing 92 E/W Gasoline Asia/Europe – Commodity Differential CFD

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Name & Trade Code

Contract Name Sing 92 E/W(100bbl-$/bbl)
MT5 Code 92_E/W
Contract Classification Commodity Differential CFD
Geographical Region Asia/Europe

Contract Specification

Sector Energy
Product Group Gasoline
Tenor Period Consecutive individual whole calendar months, e.g. May 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit mt
Trading Price Quote $/mt
Price Digits 2
Currency USD
Tick Value 1
Tick Size 0.01
Minimum Volume 1
Volume Steps [Lots] 0.01
Settlement Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.
Margins Download a summary or detailed document with tiers.

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 30 May 2025 for May 25 Tenor Period)
Last Trading Day (for new open positions) Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 23 May 2025 for May 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period

Tenor Period Settlement Valuation Process

Open Volume The net open volume for the expiring Tenor Period
Daily Settlement Value Market-on-Close – The daily assessment settlement time, e.g. 4:30 pm for European contracts
Daily Settlement Volume Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value
Final Settlement Price Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.

Contract Purpose

This differential contract allows market participants to:

  • Trade the price spread between Asian and European gasoline markets directly
  • Hedge the price risk associated with transporting gasoline between Asia and Europe
  • Manage exposure to regional price differences in gasoline, reflecting supply-demand and logistical factors
  • Speculate on changes in the relative valuation of gasoline across these two major markets

Market Significance

Regional Price Indicator: Provides a transparent benchmark for the price differential between Asian and European gasoline markets

Voyage Hedging Tool: Widely used by traders and shipping companies to hedge the economics of gasoline voyages between Asia and Europe

Supply Chain Insight: Reflects the impact of regional supply-demand imbalances, transportation costs, and quality differences on gasoline pricing

Trading Benefits

  • Efficient Spread Trading: Enables direct trading of the price difference without holding separate positions in each regional market
  • Risk Management: Offers a practical hedge for traders and refiners exposed to cross-regional gasoline flows
  • Price Discovery: Facilitates transparent valuation of gasoline arbitrage opportunities between Asia and Europe
  • Capital Efficiency: Reduces margin requirements compared to trading outright positions in both markets

This contract is particularly valuable for traders, refiners, shipping firms, and commodity market participants involved in the physical and financial gasoline markets across Asia and Europe. It provides a focused instrument to manage and capitalise on regional price differentials in a liquid and accessible format.