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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 EBOB Crk Roll Gasoline Europe – Commodity Differential Time-Spread

EBOB Crk Roll Gasoline Europe – Commodity Differential Time-Spread

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Name & Trade Code

Contract Name EBOB Crk Roll(100bbl-$/bbl)
MT5 Code EBOB_Crk_Rl
Contract Classification Commodity Differential Time-Spread CFD
Geographical Region Europe

Contract Specification

Sector Energy
Product Group Gasoline
Tenor Period Consecutive individual whole calendar months, e.g. Jun 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit bbl
Trading Price Quote $/bbl
Price Digits 2
Currency USD
Tick Value 1
Tick Size 0.01
Minimum Volume 1
Volume Steps [Lots] 0.01
Settlement Perpetual: Priced from IG comprising a feed of 8-10 LPs
Margins Download a summary or detailed document with tiers.

Expiry Trading Overview

Contract Expiry Date N/A
Last Trading Day (for new open positions) N/A
Last Trading Day (for closing position in that Tenor Period) N/A

Tenor Period Settlement Valuation Process

Open Volume N/A
Daily Settlement Value N/A
Daily Settlement Volume N/A
Final Settlement Price Perpetual

The EBOB Crk Roll contract is a sophisticated commodity CFD (Contract for Difference) in the Gasoline group that combines both a time spread and a product differential between Argus Eurobob Oxy FOB Rotterdam Barges and Brent 1st Line crude oil futures.

Contract Purpose

This complex contract allows market participants to:

  • Hedge exposure to both the time spread of Argus Eurobob Oxy FOB Rotterdam Barges and its differential to Brent crude
  • Speculate on refining margins for producing gasoline from crude oil over time
  • Manage risk related to gasoline and crude oil price fluctuations across different months

Market Significance

  • Price Discovery: Provides insights into the evolving relationship between European gasoline and global crude oil prices
  • Refining Margins: Reflects changes in the economics of producing gasoline from crude oil over time
  • Regional Arbitrage: Captures opportunities between European gasoline and global crude oil markets

Trading Benefits

  • Comprehensive Risk Management: Allows hedging against both time-related and product-related price risks
  • Market Access: Provides exposure to both European gasoline and global crude oil markets
  • Complex Strategies: Enables traders to implement sophisticated crack spread and calendar spread strategies simultaneously

This contract is particularly valuable for refineries, trading houses, and financial institutions active in both the European gasoline and global crude oil markets. It offers a powerful tool for managing complex price risks and implementing advanced trading strategies that account for both product differentials and time spreads in a single instrument.