The West Texas Intermediate (WTI) is used as one of the benchmarks in the oil markets apart from Brent and Dubai crude. The West Texas Intermediate is the underlying commodity for the New York Mercantile Exchange’s oil futures contract. Brent is two-thirds of the globe’s oil contracts based on oil extracted from the North Sea. It is often compared with the crude benchmark – Brent. It is refined mainly from inland Texas and is one of the highest quality oil available in the globe, which is easy to refine as well. This crude oil is regarded as a high-quality oil which can be easily refined. It also has a low density or specific gravity hence WTI is light.Īpart from this, WTI is the underlying commodity of the New York Mercantile Exchange’s (NYMEX) oil futures contract. The West Texas Intermediate is known as a light sweet oil as it contains around 0.34% sulfur making it sweet and light. The oil industry characterizes crude oil based on its geographical source. The list of petroleum products includes – diesel fuel, gasoline, heating oil, petrochemical feedstocks, jet fuel, waxes, asphalt, and lubricating oils. In a refinery, different parts of the crude oil will be separated into petroleum products. Once the crude oil is removed from the ground, it will be sent to the refinery. Mainly crude oil means a mixture of hydrocarbons which exist in the liquid phase in natural underground reservoirs and remains liquid at atmospheric pressure after passing through surface separating facilities. Apart from crude oil, petroleum products can also be made out of natural gas, coal and biomass. Petroleum products are oils made from hydrocarbons and crude fuel contained in natural gas. It can be found in tiny spaces within sedimentary rocks or near the surface of tar sands. SmartPay is our no-fee payment plan that breaks down the cost of your oil and service plans into equal monthly installments.Īfter a quick analysis of your annual energy costs, SmartPay determines a monthly payment for your heating oil bills.* You can also arrange to have monthly payments automatically deducted from your checking account, so you save time and money on postage.In other words, crude oil is the fossil fuel which exists in the fuel form in reservoirs or underground pools. ![]() You avoid large, unexpected payments in the winter months and manage your oil costs throughout the year with our SmartPay plan. So why not pay for your heating costs the same way? As part of our continuing effort to provide the best customer service in the industry we can help ![]() Most people spread payments for their mortgage, car, cable TV or telephone over monthly installments. Petro protects the cost of your oil and assumes all risk, so if you terminate your account prior to the expiration of your contract, an early termination fee of $399.00 will be assessed. The price will trend up or down based on market conditions but will never exceed a set limit.Ī 1-year commitment to Petro is required for this plan. Many customers feel this plan is a better option as it gives you a limit on how high your price can go and hopefully take advantage of lower prices in the future. There are no price protection cost or termination fees associated with this plan. The Variable plan has an attractive rate that fluctuates up and down with market conditions. We offer a range of heating oil pricing and payment plans to help you manage your energy costs and save money – all with no enrollment or sign-up fees!Call us today at 888.735.5651,Īnd learn why so many customers count on Petro to handle all of their heating oil service needs! ![]() ![]() Compare home heating oil prices and payment plan costs.Īs a trusted home heating oil provider for over 100 years, Petro delivers best value combined with superior full-service to ensure that your fuel needs are
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