On Monday (Nov. 17), Gulf Oil LP rolled out Gulf Online Market, a new online trading platform that promises to give B2B buyers “the lowest possible procurement costs on a daily basis,” which is a non-trivial claim given the soaring volatility of today’s petroleum prices.
The new site is also pledging “prompt purchase contracts” with a minimum volume of 7,500 gallons, as well as mobile access for live NYMEX related quotes with flexible volumes, forward fixed price values, and heat curve based forward contracts as well as instant price savings offers to buyers throughout the day.
“We work very closely with our customers, and developed the Gulf Online Market proprietary platform with their input and their needs in mind,” said Walter Brickowski, Senior Vice President of Unbranded Marketing for Gulf Oil. “Now our customers will have the ability to manage and execute a variety of spot and forward risk management tools to fit their individual company needs, while ultimately saving money. It is a winning combination for all involved.”