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Crude oil price: Argus WTI Houston| Argus Media

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/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fspanish%2Fdocuments-and-files%2Fcommodities%2Fcrude-oil%2Fhero-banner-image-desktop-oil-rig-001.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D54AAEA92840009EE879864A116B33ECF&amp;w=3840&amp;q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fspanish%2Fdocuments-and-files%2Fcommodities%2Fcrude-oil%2Fhero-banner-image-desktop-oil-rig-001.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D54AAEA92840009EE879864A116B33ECF&amp;w=3840&amp;q=75"/><img alt="" loading="lazy" width="390" height="623" decoding="async" data-nimg="1" class="HeroBanner_image__dejfl d-lg-none qa-banner-image" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fspanish%2Fdocuments-and-files%2Fcommodities%2Fcrude-oil%2Fhero-banner-image-mobile-oil-rig-001.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D5B450AF0DE1B27E9C901F9EA13A56E65&amp;w=640&amp;q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fspanish%2Fdocuments-and-files%2Fcommodities%2Fcrude-oil%2Fhero-banner-image-mobile-oil-rig-001.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D5B450AF0DE1B27E9C901F9EA13A56E65&amp;w=828&amp;q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fspanish%2Fdocuments-and-files%2Fcommodities%2Fcrude-oil%2Fhero-banner-image-mobile-oil-rig-001.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D5B450AF0DE1B27E9C901F9EA13A56E65&amp;w=828&amp;q=75"/><div class="HeroBanner_container___RcE5 container"><div class="row"><div class="col-12 col-lg-6 offset-lg-1"><div class="HeroBanner_titleAndDescription__0Cj9_"><h1 class="qa-banner-title">Argus WTI Houston</h1></div></div></div></div></div></div></div><div class="component small grey "><div class="component-content"><div class="PageSubnavigation_container__yH3q7 qa-subnavigation-bar container"><div class="PageSubnavigation_outer__ocRn_"><div class="PageSubnavigation_bar__Cf50a"><a href="#overview" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">overview</a><a href="#details" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Price assessment details</a><a href="#products" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Explore our crude oil products</a><a href="#prices" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Key price assessments</a><button type="button" class="PageSubnavigation_showMore__2Z47G cta "></button></div></div><div class="PageSubnavigation_drawer__lxQUi grey " style="left:0px"><div class="container"><div class="PageSubnavigation_drawerInner__Q_bJs"><div class="PageSubnavigation_drawerItems__AwukY"><a href="#overview" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">overview</a><a href="#details" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Price assessment details</a><a href="#products" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Explore our crude oil products</a><a href="#prices" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Key price assessments</a></div></div></div></div></div></div></div><div class="component component-padding PageIntroduction_pageIntroduction__BoFDD white" id="overview"><div class="component-content"><div class="container"><div class="PageIntroduction_row__DH0rm row"><div class="col-12 col-lg-8"><div class="qa-pageintroduction-section"><h2 class="qa-pageintroduction-title">Overview</h2><div class="PageIntroduction_description__hOYK7"><div class="qa-pageintroduction-textfield">The Argus WTI Houston crude price assessment represents Permian-quality WTI arriving by pipeline and traded at the Magellan East Houston (MEH) terminal for delivery at MEH in the prompt month. It is the most actively traded and transparent price assessment published by any pricing service for WTI at the US Gulf coast and is exceptionally liquid.<br /> <br /> In Q1 2024, Argus reported 1.25mn b/d per month on average of prompt physical transactions for “Midland-quality WTI”, deliverable at the MEH terminal. That equates to more than 300 trades each month. This compares with about eight spot physical cargo trades per month for all the grades comprising the Dated Brent price basket (Brent, Forties, Oseberg, Ekofisk, Troll and WTI Midland cif Rotterdam).<br /> <br /> Argus WTI Houston reflects the volume-weighted average of all spot physical trades done for WTI at MEH in a given day. The price is expressed as a differential to the relevant Nymex light sweet crude futures settlement price as published in the Argus WTI Formula Basis price, and is found in each day&rsquo;s Argus Americas Crude and Argus Crude reports.</div></div></div></div></div></div></div></div><div class="component component-padding grey"><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-9"><div class="qa-textpanel-description TextPanel_description__v7NGU"><h2 id="details">Price assessment details</h2> <h3>How is the Argus WTI Houston price assessment used?</h3> <p>The Argus WTI Houston price assessment is used routinely as a pricing element in term physical contracts for WTI at Houston as well as for other light sweet crude grades at the Gulf coast, such as Bakken and Eagle Ford. The assessment also provides the settlement mechanism for financial contracts listed on the CME and ICE exchanges.</p> <p>These contracts are used widely by those wanting to participate in the financial trade of WTI or by those who want to hedge exposure to the physical WTI market at the Gulf coast. Open interest on the financial contracts settling against Argus WTI Houston exceeds 160,000 contracts, or 160mn bl of contracted volume.</p> <p>Additionally, the Argus WTI Houston price assessment has become a regional benchmark, meaning that trades for other light sweet crude grades at the Gulf coast price at a differential to Argus WTI Houston. As the most transparent and robust indicator of the price of WTI at the Gulf coast, the Argus WTI Houston price is often used in the negotiation of crude export cargo prices, and it appears as a formal element of some international waterborne cargo contracts. Notable among the waterborne contracts using the Argus WTI Houston price are the contracts for delivery of Mexico&rsquo;s Maya crude in the Americas.</p> <p>&nbsp;</p> <h3>Who uses this assessment?</h3> <p>Anyone with exposure to light sweet crude from the US Gulf coast will find the Argus WTI Houston price assessment beneficial. Traders, risk managers, planners, analysts, finance officers, senior executives, national, independent and international oil companies, regulators, exchanges and government officials use the Argus WTI Houston price assessment.</p></div></div></div></div></div></div><div class="component component-padding navy " id="products"><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-7"><h2 class="section-heading">Explore our crude oil products</h2></div></div><div class="ProductListing_products__Uxsig row"><div class="col-12 col-lg-6"><a class="ProductListing_itemLink__RVSjo white" href="/ja/solutions/products/argus-crude"><h3 class="sub-heading h2 d-none d-lg-block">Argus Crude</h3><h3 class="sub-heading h4 d-lg-none">Argus Crude</h3><div class="ProductListing_itemDescription__E7NK3">世界各地の原油市場におけるスポット価格を市況解説とともに提供する情報サービスです。掲載される価格インデックスは、北米、欧州、旧ソおよびアフリカ原油などの契約価格の決済指標として利用されるほか、中東およびアジア市場においても社内販売価格や在庫評価額として利用されています。</div><span class="ProductListing_itemCta__NeAHB cta"></span></a></div><div class="col-12 col-lg-6"><a class="ProductListing_itemLink__RVSjo white" href="/ja/solutions/products/argus-americas-crude"><h3 class="sub-heading h2 d-none d-lg-block">Argus Americas Crude</h3><h3 class="sub-heading h4 d-lg-none">Argus Americas Crude</h3><div class="ProductListing_itemDescription__E7NK3">Providing price transparency for the US Gulf coast, US midcontinent, US west coast, Canada and South America</div><span class="ProductListing_itemCta__NeAHB cta"></span></a></div><div class="col-12 col-lg-4"><a class="ProductListing_itemLink__RVSjo white" href="/ja/solutions/products/argus-americas-crude-oil-forward-curves"><h3 class="sub-heading h4">Argus Americas Crude Oil Forward Curves </h3><div class="ProductListing_itemDescription__E7NK3">Independent market valuation tool to support investment and trading decisions for crude grades across the Americas.</div><span class="ProductListing_itemCta__NeAHB cta"></span></a></div><div class="col-12 col-lg-4"><a class="ProductListing_itemLink__RVSjo white" href="/ja/solutions/products/argus-crude-and-refined-products-outlook"><h3 class="sub-heading h4">Argus Crude and Refined Products Outlook</h3><div class="ProductListing_itemDescription__E7NK3">Monthly price forecasts for key crude grades, regional benchmarks and refined oil products up to 24 months out.</div><span class="ProductListing_itemCta__NeAHB cta"></span></a></div><div class="col-12 col-lg-4"><a class="ProductListing_itemLink__RVSjo white" href="/ja/solutions/products/argus-tanker-freight"><h3 class="sub-heading h4">Argus Tanker Freight</h3><div class="ProductListing_itemDescription__E7NK3">原油、精製品、バイオ燃料のフレートリスクを管理するためのデータ、洞察、独自ツール</div><span class="ProductListing_itemCta__NeAHB cta"></span></a></div></div></div></div></div><div class="component component-padding grey" id="ContentCarousel-97699bba-4658-4d72-b0c1-6e64564f7216"><div class="component-content"><div class="container"><div class="row"><div class="ContentCarousel_intro__GOQMj col-12 col-lg-8 mx-auto"><h2 class="qa-contentcarousel-header">Key price assessments</h2><p class="qa-contentcarousel-description">Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.</p></div></div></div><div class="ContentCarousel_carousel__skHV_"><div class="container"><div class="row"><div class="col-lg-10 offset-lg-1 d-none d-lg-block"><div class="Carousel_carousel__cxmDM "><div class="Carousel_viewport__hzjLs"><div class="Carousel_slides__11lIX"><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-ags"><div><h3 class="h4 qa-contentcarousel-item-title">Argus AGS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.  </p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-tmx-fob-vancouver"><div><h3 class="h4 qa-contentcarousel-item-title">Argus TMX Fob Vancouver</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Get a real view with Argus TMX market updates and comprehensive coverage</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items current"><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-ags"><div><h3 class="h4 qa-contentcarousel-item-title">Argus AGS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.  </p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-tmx-fob-vancouver"><div><h3 class="h4 qa-contentcarousel-item-title">Argus TMX Fob Vancouver</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Get a real view with Argus TMX market updates and comprehensive coverage</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-ags"><div><h3 class="h4 qa-contentcarousel-item-title">Argus AGS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.  </p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-tmx-fob-vancouver"><div><h3 class="h4 qa-contentcarousel-item-title">Argus TMX Fob Vancouver</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Get a real view with Argus TMX market updates and comprehensive coverage</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div></div></div><button class="Carousel_prev__5_kOz qa-pagination-prev" aria-controls="ContentCarousel-97699bba-4658-4d72-b0c1-6e64564f7216" aria-label=""><svg xmlns="http://www.w3.org/2000/svg" width="28.647" height="51.637" class="Carousel_arrow__vfjw1 qa-cardcarousel-arrow"><path fill="none" stroke="#33beee" stroke-linecap="round" stroke-width="4" d="m25.819 2.828-22.99 22.99 22.99 22.99"></path></svg></button><button class="Carousel_next__WkTXW qa-pagination-next" aria-controls="ContentCarousel-97699bba-4658-4d72-b0c1-6e64564f7216" aria-label=""><svg xmlns="http://www.w3.org/2000/svg" width="28.647" height="51.637" class="Carousel_arrow__vfjw1 qa-cardcarousel-arrow"><path fill="none" stroke="#33beee" stroke-linecap="round" stroke-width="4" d="m25.819 2.828-22.99 22.99 22.99 22.99"></path></svg></button></div></div><div class="col-12 d-lg-none"><div class="Carousel_carousel__cxmDM pagination qa-slide-pagination"><div class="Carousel_viewport__hzjLs"><div class="Carousel_slides__11lIX"><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-ags"><div><h3 class="h4 qa-contentcarousel-item-title">Argus AGS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.  </p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-tmx-fob-vancouver"><div><h3 class="h4 qa-contentcarousel-item-title">Argus TMX Fob Vancouver</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Get a real view with Argus TMX market updates and comprehensive coverage</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items current"><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-ags"><div><h3 class="h4 qa-contentcarousel-item-title">Argus AGS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.  </p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div class="qa-slide-items "><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-tmx-fob-vancouver"><div><h3 class="h4 qa-contentcarousel-item-title">Argus TMX Fob Vancouver</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Get a real view with Argus TMX market updates and comprehensive coverage</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/us-physical-trade-month"><div><h3 class="h4 qa-contentcarousel-item-title">US physical trade month</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/nymex-roll"><div><h3 class="h4 qa-contentcarousel-item-title">Nymex roll</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The commonly-used calculation to determine the physical price of crude at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-midland"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Midland</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-houston"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI Houston</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-wti-diff-to-cma"><div><h3 class="h4 qa-contentcarousel-item-title">Argus WTI diff to CMA</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The ideal adjustment factor to calculate the price of WTI at Cushing.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-western-canadian-select"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Western Canadian Select</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-sour-crude-index-asci"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Sour Crude Index™ (ASCI™)</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Sour Crude Index™  reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-north-sea-dated"><div><h3 class="h4 qa-contentcarousel-item-title">Argus North Sea Dated</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-mars"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Mars</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-lls"><div><h3 class="h4 qa-contentcarousel-item-title">Argus LLS</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus LLS oil index reflects the light sweet crude prices for St. James&#x27;s terminals in the US Gulf Coast.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-espo-blend"><div><h3 class="h4 qa-contentcarousel-item-title">Argus ESPO Blend</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Pricing for light crude shipped through the East Siberia-Pacific Ocean</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-des-shandong"><div><h3 class="h4 qa-contentcarousel-item-title">Argus des Shandong</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">Argus des Shandong reflects five oil spot markets in key regions for China oil imports.</p></div><span class="cta undefined qa-contentcarousel-item-cta"></span></a></div><div><a class="ContentCarousel_card__dJMK_ qa-contentcarousel-items" href="/ja/methodology/key-commodity-prices/argus-bakken"><div><h3 class="h4 qa-contentcarousel-item-title">Argus Bakken</h3><p class="ContentCarousel_text__B6H_a qa-contentcarousel-item-description">The Bakken oil price represents light sweet crude produced in North Dakota and Montana. 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It is the most actively traded and transparent price assessment published by any pricing service for WTI at the US Gulf coast and is exceptionally liquid.\u003cbr /\u003e\n\u003cbr /\u003e\nIn Q1 2024, Argus reported 1.25mn b/d per month on average of prompt physical transactions for “Midland-quality WTI”, deliverable at the MEH terminal. That equates to more than 300 trades each month. This compares with about eight spot physical cargo trades per month for all the grades comprising the Dated Brent price basket (Brent, Forties, Oseberg, Ekofisk, Troll and WTI Midland cif Rotterdam).\u003cbr /\u003e\n\u003cbr /\u003e\nArgus WTI Houston reflects the volume-weighted average of all spot physical trades done for WTI at MEH in a given day. The price is expressed as a differential to the relevant Nymex light sweet crude futures settlement price as published in the Argus WTI Formula Basis price, and is found in each day\u0026rsquo;s Argus Americas Crude and Argus Crude reports."}}},{"uid":"68262100-c560-4a0c-8d03-cd7356f50d2b","componentName":"TextPanel","dataSource":"/sitecore/content/ArgusMedia/MainSite/Home/Methodology/Key commodity prices/Argus WTI Houston/Argus WTI Houston - Page Data/Argus WTI Houston - Text Panel - Paragraphs","params":{"Theme":"Grey"},"fields":{"AnchorID":{"value":""},"EnableSiteSearch":{"value":true},"Title":{"value":""},"Description":{"value":"\u003ch2 id=\"details\"\u003ePrice assessment details\u003c/h2\u003e\n\u003ch3\u003eHow is the Argus WTI Houston price assessment used?\u003c/h3\u003e\n\u003cp\u003eThe Argus WTI Houston price assessment is used routinely as a pricing element in term physical contracts for WTI at Houston as well as for other light sweet crude grades at the Gulf coast, such as Bakken and Eagle Ford. The assessment also provides the settlement mechanism for financial contracts listed on the CME and ICE exchanges.\u003c/p\u003e\n\u003cp\u003eThese contracts are used widely by those wanting to participate in the financial trade of WTI or by those who want to hedge exposure to the physical WTI market at the Gulf coast. Open interest on the financial contracts settling against Argus WTI Houston exceeds 160,000 contracts, or 160mn bl of contracted volume.\u003c/p\u003e\n\u003cp\u003eAdditionally, the Argus WTI Houston price assessment has become a regional benchmark, meaning that trades for other light sweet crude grades at the Gulf coast price at a differential to Argus WTI Houston. As the most transparent and robust indicator of the price of WTI at the Gulf coast, the Argus WTI Houston price is often used in the negotiation of crude export cargo prices, and it appears as a formal element of some international waterborne cargo contracts. 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Traders, risk managers, planners, analysts, finance officers, senior executives, national, independent and international oil companies, regulators, exchanges and government officials use the Argus WTI Houston price assessment.\u003c/p\u003e"}}},{"uid":"07c5496a-b116-4deb-b3e2-6ffaa8ace323","componentName":"ProductListing","dataSource":"/sitecore/content/ArgusMedia/MainSite/Home/Methodology/Key commodity prices/Argus WTI Houston/Argus WTI Houston - Page Data/Product Listing","params":{"Theme":"Navy"},"fields":{"ProductPages":[{"id":"aa25e007-d1d2-4e68-ab9e-76e597d5a0a7","url":"/ja/solutions/products/argus-crude","name":"Argus Crude","displayName":"Argus 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