BENCHMARKS
Know what the number measures.
Start with the instrument, grade, location, delivery period and publication time. A familiar benchmark name does not make two prices directly comparable.
| Reference | What to check | Official starting point |
|---|---|---|
| Brent futures | Contract month, exchange, expiry and quote delay | ICE Brent guide → |
| Physical assessment | Assessment method, cargo dates and delivery basis | Platts Dated Brent → |
| WTI reference | Cushing or another location; spot or named futures contract | EIA spot-price series → |
01 / BRENT
One name. Several market references.
Platts Dated Brent assesses physical crude cargoes. ICE Brent futures are exchange contracts linked to the Brent market. A price comparison needs the precise instrument and delivery period, rather than the word “Brent” alone.
Source: S&P Global Energy →Source: ICE →02 / WTI
Location is part of the price.
Specify whether a WTI reference concerns a spot series at Cushing, a futures contract or another physical delivery location. Use the publisher’s own definition; avoid silently substituting one series for another.
View the EIA series definitions →03 / DIFFERENTIALS
Make the adjustments visible.
Crude quality and logistics can create persistent price differences. A scenario can express a grade as a benchmark plus or minus a differential, then add a separate freight assumption. Actual contracts may use more detailed pricing terms.
Source: EIA →Model your own assumptions →Quote checklist
Before using a price: record the publisher, exact series or contract, observation timestamp and timezone, units, currency, delivery basis, update frequency, and permitted use. This site does not display a licensed real-time price feed.