In product trades the specification matters as much as the product. One clause is what separates an accepted cargo from an off-spec rejection.
Jet A-1
The international civil aviation kerosene grade, certified to ASTM D1655 and UK DEF STAN 91-091, with freeze point as a key limit. Handling history and filtration are tightly controlled, so storage and transport systems are kept segregated.
Gasoil / Diesel
Traded in sulfur grades — typically 10 ppm, 50 ppm or 500 ppm. European automotive diesel is specified to EN 590, with cetane number, cold filter plugging point and density stated alongside.
Gasoline
Graded by octane (RON 92, 95, 98), with vapour pressure (RVP) set by seasonal and regional regulation. Permitted blend components — octane boosters, oxygenates — are written into the contract.
Marine fuels — VLSFO / HSFO
Under IMO rules the marine fuel sulfur cap has been 0.50% globally (0.10% in emission control areas) since 2020. VLSFO became the mainstream grade, while HSFO is consumed mainly by scrubber-fitted vessels. Quality is specified to ISO 8217.
Naphtha
Both a petrochemical feedstock and a gasoline blendstock. Cracking yield depends on paraffin content (the P/N/A split), which is why petrochemical and reforming grades price differently. The cut range — light or full-range — is specified too.
LPG — propane / butane
Liquefied petroleum gas, handled pressurised or refrigerated. Heating and cooking demand competes with petrochemical feedstock demand on a seasonal cycle, giving the propane-butane spread a strong seasonal pattern.
This reference explains published industry norms and standards. It does not replace the terms of an individual contract, nor legal or tax advice — and it carries no prices; the price board does that.