🛢️ HOW A BARREL OF OIL BECOMES EVERYTHING?
1 barrel=Multiple markets
Inside a refinery distillation column, crude is separated by boiling point:
Lightest fractions (<85°F)
→ Butane, LPG
85–185°F
→ Gasoline blendstock
185–350°F
→ Naphtha (petchem feedstock)
350–450°F
→ Kerosene, jet fuel
450–650°F
→ Diesel, heating oil
650–1,050°F
→ Heavy gas oil
1,050°F
→ Residual fuel oil
Why this matters:
Refining margins depend on the spread between these products.
Jet fuels, diesel , gasoline demand.
Oil isn’t one commodity.
It’s a stack of markets inside one barrel.
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