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The Platts assessment process determines the value of physical commodities 15–30 days forward for many oil products loading in Singapore. [1]MOPS is an acronym that stands for the Mean of Platts Singapore, and typically refers to any contract mechanism that derives its value by referencing the average of a set of Singapore-based oil price assessments published by Platts.
A benchmark crude or marker crude is a 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 which is traded in Singapore, Western Canadian ...
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
According to The World Fact Book, Singapore produces about 20,170 barrels of crude oil per day, ranking it 78th in the list of the world's oil producing countries. [3] The government-owned Singapore National Oil Corporation (Abbreviation: SNOC) is in charge of the governance of the country's oil industry and protecting it. [4]
Benchmark oil in New York actually rose for two days straight early in June, to $84.29. With U.S. oil supplies the highest since 1990, gas reached $3.57 on June 5. [36] After falling again to its lowest price since October 2011, Benchmark crude rose 5.8% to $82.18 on June 29, with Brent crude up 4.5% to $95.51.
Oil prices took a breather, with Brent crude futures 0.3% lower at $81.15 a barrel, while U.S. crude futures eased 0.5% to $77.01 a barrel. ... Additional reporting by Dhara Ranasinghe in London ...
Tapis crude is a Malaysian crude oil used as a pricing benchmark in Singapore. Tapis is very light, with an API gravity of 43°-45°, and very sweet, with only about 0.04% sulfur. [1][2] While it is not traded on a market like Brent Crude or West Texas Intermediate (WTI), it is often used as an oil marker or price referencing indicator for Asia ...
The price of crude oil in 2003 traded in a range between $20–$30/bbl. [17] ... Singapore and South Korea, most Asian nations subsidize domestic fuel prices.