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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.

Oil Swaps Term Dictionary

Key terminology simplified for navigating oil swaps transactions effectively

A

Account Balance/value

Active Month

AIM

Adjustment Factor

Adjusted Volume

Applicable Rate

Aggregation

Annuity Swap

Arbitrage

Arbitrage

Arbitrage Economics

Argus

Assessment

Assessment Window

At-the-Money (ATM)

Associated Gas

API Gravity

Ask

Axe

Average Pricing Swap

B

Backwardation

Backwardation

Balmo

Bar Chart

Barrel (bbl)

Barrel

Base Gas

Base Currency

Base Rate

Basis Risk

Basis Risk

BEIS

Benchmark

BFOETM

Bid

Bid Above

Bid/Ask (Bid/offer) Spread

Bid Price

Bill of Lading

Bio-Leaching

Block Future

Block Trade

Bollinger Bands

Borderline Customer

Bearish/Bear Market

Bullion

Buy Position

Blue Chip

Bunker Fuel

Bundesbank

Brent Crude

Break-Even Price

Breakout

Blending Margin

Broker

C

Candlestick Chart:

Cable

Calendar Spread

Capital

Carry Trade

Carbon Pricing

Cash Market

Cash Price

Channel

Charting

CME

Commission

Commodity Index Fund

Commodity Swap

Commodity

CTA

CPI

Contango

Contango

Controlled Risk

Core Inflation

Corporate Action

Cost of Carry

COT

Crack Spread

Crack

Crude Assay

Cross Currency

Cross Rate

Crossed Price

Counterparty

Clearinghouse

Closed Position

Closing Price

Close Out

Closing Price

CFD

Contract (unit or lot)

CFTC

Commercial Field

Clearinghouse

D

Data Releases

Daily Charts

Daily Mark-to-Market

Daily Volume

Day Order

Day Trading

Dealing Spread

Deferred Month

Distillates

Discounted Cash Flow

Differential

Differentials (Diffs)

Derivatives

Delivery Point

Deposit

Depreciation

Dubai Crude

Dated to Lead

Diversification

Dividend

Dove, Dovish

Downstream

Downtrend

E

ECB

Economic Driver

Economic Indicator

EFP

Exchange-Traded Future

ESPO Blend

Energy Arbitrage

End User

Environmental Swap

Escrow

East/West

Elliott Wave Theory

Euro

European Option

Equity Barrel

Equity

Exposure

Exchange

Exogenous Risk

F

FCA

Financial Swap

Fibonacci

Force Majeure

Forex/FX

Fiscal Policy

Fixed Price

Flow

Floating Price

Forward curve

Forward Curve

Free Margin

Front Month

FTSE 100

Fuel Oil

Floor Price

Flat Price

Fundamental Analysis

Futures

Futures Spread

G

Gapping

Gasoil

Gas Storage Swap

Gasoline Crack Spread

GasNap

Geographical Arbitrage

GDP

Global Benchmarks

Good-for-day (Day Order)

GTC

Green Premium

Greenback

Groundwater

GDP

Gross Margin

Gamma Risk

Grid Pricing

Guaranteed Volume

H

Haircut

Hawk, Hawkish

Heating Oil

Heavy Crude

Heavy Crude Oil

Hedge

Hedge Ratio

Hedging Premium

High Frequency Trading

Hitting

HOGOs

Historical Volatility

Hub Price

Hybrid Swap

Hydrocarbon Swap

I

ICE

ICIS

Illiquid Market

Illiquid Market

Inflation

Inflation Rate

Initial Margin

Index Pricing

Index

Interbank Rates

Intervention Price

Intermonth Spread

Intrinsic Value

ITM

Iranian Light

IOCs

Inventory Risk

Interest

ISDA Agreement

ITF

Intraday Trading

J

Jacketed Pipeline

JCC

Japanese Candlestick Charts

Jet Fuel Swap

Jet Kerosene

J-Curve Effect

Joint Pricing

Joint Venture

Jump Risk

Jurisdiction Risk

Just-in-Time Inventory

K

Kazakh Blend

Kerosene Swap

Keystone Pipeline

Kilobarrels

Kiwi

Kick-Off Trade

Knock-In Option

Knock-Out Option

K-factor

Kuwait Crude

KPI

L

Last Trading Day

Lease Agreement

Leverage

Limit Order

LIBOR

Lifting

Light Sweet Crude

Lump Sum Payment

LNG Swap

Liquidity

Liquidity

Liquidity Providers

Liquidity Risk

London Fixing

Loonie

Logistics Cost

Long Position

Long Position

Lot Size

M

Maintenance Margin

Margin Call

Market Data

Market Execution

Market Maker

Market Order

Market Risk

Mark-to-Market

MetaTrader/MT5

Middle Distillate

Middle Distillates

Midstream

Mid Price

Mmbeo

Minute Markers

Modified Duration

Minimum Volume Commitment

Monthly Average Price

Momentum

Monetary Policy

Moving Average

N

NASDAQ

Natural Gas Swap

Naphtha

Negative Basis

Negative Balance Protection

Net Change

Netback Pricing

Net Position

NPV

Notional Amount

Nominal Value

NFP

Non-Deliverable Swap

NYSE

NYMEX

Nikkei 225

O

Octane

Offered Through

Offered

Offsetting Trade

Oil Future

Oil Inventory

Oil Sands

Oil Swap

Open Interest

Open Interest

Open Position

Order/Order to Open:

Order Book

Oscillator

Operational Risk

Option Exercise Date

Option Premium

Option Strike Price

Option Delta

OTM

OTC

Oman Crude

P

Product Quality Adjustment

PRA

PRA

Position Margin

Position Limit

Position Sizing

Position

Platts

Platts Assessment

Pip

Pivot Points

Physical Differential (or Premium)

Physical Delivery

Pipeline Tariff

P&L

Prompt Month

Price Risk

Price Floor

Priced In

Primary Recovery

PMI

Put Option

Q

Quantity Tolerance

Quality Premium

Quality Differential

Quick Ratio

Quantitative Risk Management

Quoted Price

Quasi-Swap

Quota Allocation

Quotational Period

Quarterly Hedging

Quantitative Easing

Quote

Quote Currency

R

Risk Appetite

Risk Premium

Resistance Level

RSI

Rally

Range

Realised Profit/Loss

Realized P&L

Residual Fuel Oil

Refining Margin

Regrade Swap

Retail Sales

Roll Yield

Refinery Throughput

Running Profit/Loss

Renewable Energy Swap

RVP

Quotational Period

S

Scaling In

Scalping

Seasonal Spread

Sector

Settlement Price

Sharpe Ratio

Shipping Swap

Shorting

Slippage

Sortino Ratio

Spot Charter Rate

Spot Price

Spread

Spread Betting

Spread Risk

S&P 500

Speculative Position

Slippage

Standard Deviation

Stochastic

Stock Index

Stock Exchange

Stop Entry Order

Stop Loss (SL)

Stop Order

Stopping Out

Support

Sulfur Adjustment

Swissie

Synthetic Swap

T

Technical Analysis

Technical Arbitrage

Take Profit (TP)

Tank Storage Cost

Term Contract

Tenor

Tick

Time Charter Swap

Time Spreads

Tom-Next

Trade Size

Trading Plan

Trading Volume

Trader Exposure

Trade House

Tax Hedging

TAS

Trailing Stop

Trend

Trend Lines

Title Transfer

Total Open Interest

Transportation Differential

U

Underlying

Underlying Index

Unemployment Claims

Unbundled Cost

Unhedged Exposure

Unrealized P&L

Unwind Cost

Unit Refining Margin

Uptick

Upstream

Uplift

Urgency Premium

Usage-Based Swap

V

Variable Pricing

Valuation Date

VaR

Vega

Vertical Integration

Vessel Size Differential

VISCO

Volume

Volume Risk

Volume Swap

VWAP

Volatility

Volatility

Volatility Index

Volatility Smile

VIX

W

WACOG

Wall Street

Warehouse Cost

Warranted Quantity

Weather Hedging

Weighted Average Price

Wet Barrel

WTI

WTI

Wheeling Fee

Wholesale Price

Working Inventory

Write Option

X

XD

Y

Year-on-Year Spread

Yield

Yield Curve

Yuan

Yard

Z

Zonal Arbitrage

Zone Pricing

Zonal Spread

Z-Score Hedging

Zero-Cost Collar

Zero Basis Risk

Yearly Swap Contract

Yield Premium

Zloty