|
Benchmark (crude Oil)
A benchmark crude or marker crude is a Petroleum, crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis crude, Tapis Crude which is traded in Singapore, Western Canadian Select used in Canada, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus-34 Light, Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition. Benchmarks are used because there are many List of crude oil products, different varieties and grades of crude oil. Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transpor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brent Vs WTI Crude Oil
Brent may refer to: *Brent (name), an English given and surname Place name ;In the United States *Brent, Alabama *Brent, Florida *Brent, Georgia *Brent, Missouri, a ghost town *Brent, Oklahoma ;In the United Kingdom * Brent, Cornwall *Brent Knoll, a hill in Somerset, England *Brent Knoll (village), a village at the foot of the hill *East Brent, another village at the foot of the hill *London Borough of Brent, England **Brent (electoral division), Greater London Council *South Brent, Devon, England ;Elsewhere *Brent, Ontario, a village in Algonquin Provincial Park, Canada *Brent crater, a meteor crater named after the village of Brent, Ontario *Brent oilfield, North Sea In fiction * Brent (Planet of the Apes), Brent (''Planet of the Apes'') * Corey Brent, fictional character on the ITV soap opera ''Coronation Street'' * David Brent, fictional character on the BBC television comedy ''The Office'' * Stefan Brent, fictional character on the ITV soap opera ''Coronation Street'' * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
API Gravity
The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water: if its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. API gravity is thus an inverse measure of a petroleum liquid's density relative to that of water (also known as specific gravity). It is used to compare densities of petroleum liquids. For example, if one petroleum liquid is less dense than another, it has a greater API gravity. Although API gravity is mathematically a dimensionless quantity (see the formula below), it is referred to as being in 'degrees'. API gravity is graduated in degrees on a hydrometer instrument. API gravity values of most petroleum liquids fall between 10 and 70 degrees. In 1916, the U.S. National Bureau of Standards accepted the Baumé scale, which had been developed in France in 1768, as the U.S. standard for measuring the specific gravity of liquids less den ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Mercantile Exchange
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. The company's two principal divisions are the New York Mercantile Exchange and Commodity Exchange, Inc (COMEX), once separately owned exchanges. NYMEX traces its history to 1882 and for most of its history, as was common of exchanges, it was owned by the members who traded there. Later, NYMEX Holdings, Inc., the former parent company of the New York Mercantile Exchange and COMEX, went public and became listed on the New York Stock Exchange on November 17, 2006, under the ticker symbol NMX. On March 17, 2008, Chicago based CME Group signed a definitive agreement to acquire NYMEX Holdings, Inc. for $11.2 billion in cash and stock and the takeover was completed in August 2008. Both NYMEX and COMEX now operate as designated contract marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Board Of Trade
The Chicago Board of Trade (CBOT), is an American futures exchange, futures and options exchange that was founded in 1848. On July 12, 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets (DCM) of the CME Group. History The Chicago Board of Trade (CBOT), established on April 3, 1848, is one of the world's oldest futures and options exchanges. It was created as a centralized venue where buyers and sellers could meet to negotiate and formalize forward contracts. The idea originated from a conversation between Thomas Richmond and W. L. Whiting, who discussed the potential benefits of forming a board of trade. Their exchange led to a March 13 meeting of merchants and businessmen who supported the initiative, resulting in a resolution to create the institution and draft a constitution. A committee was then formed to develop bylaws, which were officially ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volatility (finance)
In finance, volatility (usually denoted by "sigma, σ") is the Variability (statistics), degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option). Volatility terminology Volatility as described here refers to the actual volatility, more specifically: * actual current volatility of a financial instrument for a specified period (for example 30 days or 90 days), based on historical prices over the specified period with the last observation the most recent price. * actual historical volatility which refers to the volatility of a financial instrument over a specified period but with the last observation on a date in the past **near synonymous is realized volatility, the square root of the realized variance, in turn c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum Production In Canada
Petroleum production in Canada is a Economy of Canada, major industry which is important to the overall economy of North America. Canada has the third largest list of countries by proven oil reserves, oil reserves in the world and is the world's fourth largest list of countries by oil production, oil producer and fourth largest list of countries by oil exports, oil exporter. In 2019 it produced an average of of crude oil and equivalent. Of that amount, 64% was upgraded from Unconventional (oil & gas) reservoir, unconventional oil sands, and the remainder light crude oil, heavy crude oil and natural-gas condensate. Most of the Canadian petroleum production is exported, approximately in 2019, with 98% of the exports going to the United States. Canada is by far the largest single source of oil imports to the United States, providing 43% of US crude oil imports in 2015. The petroleum industry in Canada is also referred to as the "Canadian Oil Patch"; the term refers especially to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Crude Index
The Canadian Crude Oil Index (CCI) serves as a benchmark for oil produced in Canada.http://boereport.com/2016/01/04/auspice-capital-advisors-launches-first-live-index-tied-to-canadian-crude-oil/, http://boereport.com/2016/01/04/auspice-capital-advisors-launches-first-live-index-tied-to-canadian-crude-oil/ It allows investors to track the price, risk, and volatility of the Canadian commodity. The CCI was launched by Auspice Capital Advisors in 2014. https://hfm.global/ctaintelligence/news/proshares-launches-managed-futures-etf-2/ The Index moved from a day end posting to live in January 2016. The CCI can be used to identify opportunities to speculate outright on the price of Canadian crude oil or in conjunction with |
Dubai Mercantile Exchange
The Dubai Mercantile Exchange (DME) is a commodity exchange based in Dubai currently listing its flagship futures contract, DME Oman Crude Oil Futures Contract (OQD). Launched in 2007, the DME aims to become the crude oil pricing benchmark for the Asian market with its Oman Crude Oil contract, like the Intercontinental Exchange’s (ICE) North Sea Brent is to Europe and the New York Mercantile Exchange’s (NYMEX) West Texas Intermediate is to North America. The Dubai Mercantile Exchange announced that it will officially change its name to Gulf Mercantile Exchange (GME) effective September 2, 2024. The choice of the OQD contract as a benchmark was due to several important attributes of the crude oil itself and its infrastructure as opposed to the volume of export in comparison with other Middle East crudes. Firstly, the Omani crude oil is not subject to OPEC production quotas and/or cuts, nor is it subject to destination restrictions. Secondly, the geographical location of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab Emirates, seven emirates, with Abu Dhabi serving as its capital. It shares land borders with Oman to the east and northeast, and with Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran, and with Oman in the Gulf of Oman. , the UAE has an estimated population of over 10 million, of which 11% are Emiratis; Dubai is List of cities in the United Arab Emirates, its most populous city and is an international hub. Islam is the State religion, official religion and Arabic is the official language, while English is the most spoken language and the language of business. The United Arab Emirates Oil reserves in the United Arab Emirates, oil and natural gas reserves are the world's List of countries by pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Crude Oil
Dubai (Help:IPA/English, /duːˈbaɪ/ Help:Pronunciation respelling key, ''doo-BYE''; Modern Standard Arabic, Modern Standard Arabic: ; Emirati Arabic, Emirati Arabic: , Romanization of Arabic, romanized: Help:IPA/English, /diˈbej/) is the List of cities in the United Arab Emirates#Major cities, most populous city in the United Arab Emirates and the capital of the Emirate of Dubai. It is located on a Dubai Creek, creek on the south-eastern coast of the Persian Gulf, Persian Gulf. As of 2025, the city population stands at 4 million, 92% of whom are Expatriates in the United Arab Emirates, expatriates. The wider urban area includes Sharjah and has a population of 5 million people as of 2023,https://www.demographia.com/db-worldua.pdf while the Dubai–Sharjah–Ajman metropolitan area counts 6 million inhabitants. Founded in the early 18th century as a Cultured pearl, pearling and fishing settlement, Dubai became a regional trade hub in the 20th century after declaring itself a f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Sea
The North Sea lies between Great Britain, Denmark, Norway, Germany, the Netherlands, Belgium, and France. A sea on the European continental shelf, it connects to the Atlantic Ocean through the English Channel in the south and the Norwegian Sea in the north. It is more than long and wide, covering . It hosts key north European shipping lanes and is a major fishery. The coast is a popular destination for recreation and tourism in bordering countries, and a rich source of energy resources, including wind energy, wind and wave power. The North Sea has featured prominently in geopolitical and military affairs, particularly in Northern Europe, from the Middle Ages to the modern era. It was also important globally through the power northern Europeans projected worldwide during much of the Middle Ages and into the modern era. The North Sea was the centre of the Viking Age, Vikings' rise. The Hanseatic League, the Dutch Golden Age, Dutch Republic, and Kingdom of Great Britain, Brita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Field
A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations. Such reservoirs form when kerogen (ancient plant matter) is created in surrounding rock by the presence of high heat and pressure in the Earth's crust. Reservoirs are broadly classified as ''conventional'' and '' unconventional'' reservoirs. In conventional reservoirs, the naturally occurring hydrocarbons, such as crude oil (petroleum) or natural gas, are trapped by overlying rock formations with lower permeability, while in unconventional reservoirs the rocks have high porosity and low permeability, which keeps the hydrocarbons trapped in place, therefore not requiring a cap rock. Reservoirs are found using hydrocarbon exploration methods. Oil field An oil field is an area of accumulated liquid petroleum underground in multiple (potentially linked) reservoirs, trapped as it rises to impermeable rock formations. In industrial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
