How US crude oil price indicators have been shaped
UDC: 338.5(73)
DOI: -
Authors:
KATYUKHA PAVEL B.
1,
TSVETAEV YURI V.1,2
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
2 Saint Petersburg International Mercantile Exchange, Moscow, Russia
Keywords: crude oil price indicator, oil benchmark, price reporting agency, commodity exchange, NYMEX WTI, NYMEX CMA, ASCI
Annotation:
US oil market is one of the largest and most sophisticated segments of the global oil market. Practices used in it influence processes that take place in oil industry well beyond the coasts of North America. Experience acquired while shaping crude oil price indicators currently used in the US oil market on the one hand epitomizes its specifics and on the other demonstrates a number of generic tendencies of this anything but simple process. The article analyses emergence and evolution of the crude oil price indicators of the US oil market. In particular, it focuses on the NYMEX WTI benchmark and attempts to set indicators for US seaborne crude oil exports.
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