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#2 Heating oil price, 1986–2022 Kerosene inventory stock levels (United States), 1993–2022. Heating oil is known in the United States as No. 2 heating oil. In the U.S., it must conform to ASTM standard D396. Diesel and kerosene, while often confused as being similar or identical, must each conform to their respective ASTM standards. [3]
The Whiting Refinery is an oil refinery located on the southwestern shore of Lake Michigan and the Indiana Harbor and Ship Canal [1] and operated by BP.The facility is primarily located in Whiting, Indiana, USA, though portions of the 1,400 acres (5.7 km 2) complex span into the neighboring cities of Hammond and East Chicago.
Former names include: coal oil, stove oil, and range oil. [7] Number 2 fuel oil is a distillate home heating oil. [8] Trucks and some cars use similar diesel no. 2 with a cetane number limit describing the ignition quality of the fuel. Both are typically obtained from the light gas oil cut.
Oil company Phillips 66 announced Wednesday that it plans to shut down a Los Angeles-area refinery by the end of 2025, citing market concerns. The company said it will remain operating in the state.
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West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).