What is the Argus CMA diff?
The Argus WTI differential (diff) to CMA is a market-oriented conversion factor often used in conjunction with the Nymex Calendar Month Average (CMA) to calculate the physical price of WTI at Cushing.
What is Argus WTI?
Argus WTI Houston price assessment 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.
What is Argus value?
Argus prices are used as trusted reference points that bring transparency to physical supply and derivative contracts, for mark-to-market purposes, as an indication of value for tax assessment, for risk management and strategic analysis and planning.
What is WTI P Plus?
WTI P-Plus is a local market price for physical WTI barrels and the CMA NYMEX price is the benchmark underneath the price of most US domestic crude transactions. There are variations on the formulas used to calculate these prices.
What is CMA crude oil?
The May CMA (calendar month average) is a combination of these daily prompt WTI futures settles from May 1 to 31. In order to calculate the fixed price for a Canadian barrel of crude a differential must be applied to the corresponding calendar month.
What is a CMA for oil and gas?
The pricing formula is deceptively simple: Price per barrel = NYMEX Calendar Month Average price (CMA), plus the “roll,” plus the Midland/Cushing basis, less the crude purchaser’s trucking deduct (which covers the actual cost to truck the oil, plus the purchaser’s profit)
What is WTI meh?
Also known as: MEH. Magellan East Houston is a crude oil terminal in Houston, Texas, that is an aggregation point for crude brought down to the Gulf Coast from inland producing regions. MEH serves as the pricing point for WTI on the the Gulf Coast.
What is Midland WTI?
Midland – This is the price point closest to the actual production of WTI. It is one of the main gathering points for WTI in West Texas before it is sent by pipeline to the Gulf Coast, Cushing, or nearby refineries.
What is West Texas Sour?
This is a reversal of standard relationships between light sweet crude and intermediate sour crude which requires more complex refining and therefore often trades at a discount to less complex light sweet crudes.
Does crude oil expire?
There Is No “Use By” Date, But… Although you can’t lift an oil drum lid and sniff out bad oil like you would a gallon of milk, under the right conditions and improper exposure crude oil can, in fact, go bad. Oil doesn’t contain materials that routinely expire as other products do.
What is NYMEX crude?
NYMEX crude is the exchange-traded contract for WTI on the NYMEX commodities exchange. There is both an active spot and futures market for NYMEX crude, which has helped to make it (along with Brent) one of the major crude oil benchmarks.
What is CMA oil?
NYMEX CMA means the arithmetic average of the daily settlement prices for the “Light Sweet Crude Oil” prompt month contract reported by NYMEX for the period beginning with the first day of the delivery month through the last day of the delivery month, including weekends and NYMEX holidays and NYMEX non-trading days …
What is CMA crude?
What is Brent ice?
The ICE Brent Index represents the average price of trading in the prevailing North Sea physical market for the relevant delivery month.
What does ICE Brent stand for?
the Intercontinental Exchange
The Brent Index is the cash settlement price for the Intercontinental Exchange (ICE) Brent Future based on ICE Futures Brent index at expiry.