Benchmark (crude oil)

Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition.

For many years it was the only freely traded oil in the Middle East, but gradually a spot market has developed in Omani crude as well.

In July 2007, a potential new mechanism arose in the form of the Dubai Mercantile Exchange, which offers futures contracts in Omani crude.

Both Edmonton Par and WCS are high-quality low sulphur crude oils with API gravity levels of around 40°.

[7] The CCI provides a fixed price reference for Canadian crude oil and provides an accessible and transparent index to serve as a benchmark to build investable products upon, and could ultimately increase its demand to global markets.

The contract trades in units of 1,000 barrels, and the delivery point is Cushing, Oklahoma, which is also accessible to the international spot markets via pipelines.

The contract provides for delivery of several grades of domestic and internationally traded foreign crudes, and serves the diverse needs of the physical market.