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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 Distillates Sing Kerosene/Sing Gasoil

Sing Kerosene/Sing Gasoil

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A CFD is a financial derivative that allows traders to speculate on the price movement of an asset without owning it. The trader enters into a contract with a broker, agreeing to exchange the difference in the asset's price from the time the contract is opened to when it is closed.

Name & Trade Code

Contract Name Sing Kero/Sing GO(100bbl-$/bbl)
MT5 Code Sg_Kero/Sg_GO
Contract Classification Commodity Differential CFD
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Distillates
Tenor Period Consecutive individual whole calendar months, e.g. Aug 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 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. 29 August 2025 for Aug 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. 22 August 2025 for Aug 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period
Trading Hours 8:00am - 5:30pm London time
Quoting Hours 8:00am - 6:00pm London time

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 product differential contract allows market participants to:

  • Hedge exposure to the price spread between jet kerosene and gasoil in the Singapore market
  • Speculate on refining margins for producing jet fuel versus gasoil
  • Manage risk related to aviation fuel and diesel fuel price fluctuations in the Asian market

Market Significance

  • Price Discovery: Serves as a benchmark for the relative value of jet fuel and diesel in the Asian market
  • Refining Margins: Reflects the economics of producing jet fuel versus gasoil
  • Regional Demand Patterns: Captures shifts in demand between aviation and ground transportation fuels

Trading Benefits

  • Risk Management: Allows hedging against price volatility in the jet fuel and gasoil markets
  • Market Access: Provides exposure to key Asian distillate markets
  • Spread Trading: Enables traders to capitalise on price differentials between aviation and diesel fuels

This contract is particularly useful for airlines, shipping companies, refineries, and commodity traders operating in the Asia-Pacific region, offering them a tool to manage price risks and implement sophisticated trading strategies in the distillates market.

A spread bet is a form of wagering on the price movement of an asset, where the trader bets on whether the price will rise or fall. The profit or loss is determined by the difference between the opening and closing prices.

Name & Trade Code

Contract Name Sing Kero/Sing GO($/0.01)
MT5 Code Sg_Kero/Sg_GO.s
Contract Classification Commodity Differential SB
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Distillates
Tenor Period Consecutive individual whole calendar months, e.g. Aug 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit
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 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. 29 August 2025 for Aug 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. 22 August 2025 for Aug 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period
Trading Hours 8:00am - 5:30pm London time
Quoting Hours 8:00am - 6:00pm London time

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 product differential contract allows market participants to:

  • Hedge exposure to the price spread between jet kerosene and gasoil in the Singapore market
  • Speculate on refining margins for producing jet fuel versus gasoil
  • Manage risk related to aviation fuel and diesel fuel price fluctuations in the Asian market

Market Significance

  • Price Discovery: Serves as a benchmark for the relative value of jet fuel and gasoil in the Asian market
  • Refining Margins: Reflects the economics of producing jet fuel versus gasoil
  • Regional Demand Patterns: Captures shifts in demand between aviation and ground transportation fuels

Trading Benefits

  • Risk Management: Allows hedging against price volatility in the jet fuel and diesel markets
  • Market Access: Provides exposure to key Asian distillate markets
  • Spread Trading: Enables traders to capitalise on price differentials between aviation and diesel fuels

This contract is particularly useful for airlines, shipping companies, refineries, and commodity traders operating in the Asia-Pacific region, offering them a tool to manage price risks and implement sophisticated trading strategies in the distillates market.