Kerosene Meaning:
In commodity market terminology, Kerosene or paraffin is a burnable, petroleum-derived, hydrocarbon-based oil. Its primary use is in heaters, lamps and jet engines as a fuel.

Kerosene Example:
Kerosene futures trade on the Tokyo Commodity Exchange (TOCOM). On the TOCOM, the futures are traded in 50 kiloliter lot sizes and are quoted in Japanese Yen per kiloliter.