Soybean oil formulations. However, other oils (such as linseed oil) may be superior for some drying oil applications. While soybean oil has no direct insect repellent activity, it is used as a fixative to extend the short duration of action of essential oils such as geranium oil in several commercial products. Soybean oil is traded at the Chicago Board of Trade in contracts of 60,000 pounds at a time. Prices are listed in cents and hundredths of a cent per pound. Soybean oil Soybean oil is a vegetable oil extracted from the seeds of the soybean ("Glycine max"). It is one of
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude