Reference price
A benchmark provides a common point of comparison. Our planner uses an assumed USD/barrel reference value, entered by you.
Oil markets
Understand what a barrel represents.
A benchmark is a reference point. The commercial picture also depends on grade, location, timing and the terms of a transaction.
Grade & quality
Density, sulphur content and refinery suitability influence how one grade is valued relative to another.
Location & timing
Delivery point, freight and availability in a particular period can change the economics of sourcing a barrel.
Three questions before any comparison.
| Question | What to establish | Why it matters |
|---|---|---|
| What is being priced? | Crude grade, physical specification and reference assessment. | A futures quote and a physical cargo assessment describe different instruments. |
| Where and when? | Delivery point, pricing period and loading or arrival window. | Transportation and timing affect comparability. |
| Which costs are included? | Freight, handling, storage, insurance, losses, finance and tax. | An attractive headline price may omit significant costs. |
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