Curoil N.V. has been trading oil derivative products (not crude oil) from oil trading companies or refineries for almost 35 years now. Until two years ago, the main supplier was the local Isla Refinery.

The market price of the derivatives of crude oil, such as gasoline, diesel fuels, LPG, jet fuel and fuel oil, do not correlate with the same trends as the crude prices. However, when crude becomes less expensive, it will reflect in the prices of derivatives’ prices at some point. Nonetheless, it should be remembered that transporting, storing and processing the crude oil, before it becomes a derivate, costs money.

It is worth noting that pricing the product will always be a snapshot of the market price at that time and this may continue to drop or rise depending on the macroeconomic and geopolitical events in the world. Also, we can not overlook unexpected events, like we are experiencing at this moment with the world pandemic.