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Estimated contract prices based on government-selling prices, netback values, or spot market quotations. United States average price is weighted by estimated import volume.

Estimated contract prices based on government-selling prices, netback values, or spot market quotations. United States average price is weighted by estimated import volume.

Estimated contract prices based on government-selling prices, netback values, or spot market quotations. United States average price is weighted by estimated import volume.

The APSP denotes an equally weighted average of three crude oil spot prices; West Texas Intermediate (WTI), Dated Brent (Brent), and Dubai Fateh (Dubai). The prices of these crude oils tend to move together according to the inequality WTI(more than) Brent (more than) Dubai. Their price differentials reflect differences in American Petroleum Institute (API) measure of gravity, sulfur content, and overall weight. The WTI spot price refers to the physical delivery price for a barrel of WTI deliverable to Cushing, Oklahoma. The WTI price is frequently mentioned in the financial press, and is often described as so called headline oil price. The Brent spot price is the physical delivery price for a barrel of either Dated Brent (UK), Forties (Norway), or Oseberg (Norway) to Sullom Voe, United Kingdom (in the Shetland Islands). The Dubai Fateh spot price refers to the physical price for a barrel of Dubai Fateh deliverable in the Arabian Gulf at Dubai, United Arab Emirates.