The ARGUS North Sea Dated crude price assessment
The North Sea crude market is crucial to global oil trade. It is the home of Brent crude and the complex system of derivatives that have grown around the trade of Brent. The Argus North Sea Dated price assessment represents the market standard for the establishment of a regional price benchmark. It based on the assessment of five grades of crude produced in the North Sea: Brent, Forties, Oseberg, Ekofisk and Troll (BFOET), assessed on a free-on-board (FOB) terminal basis. Argus market reporters triangulate the prices of these physical crudes with contracts for difference (CFDs) and forward contracts to come to the Argus North Sea Dated.
Advantages of the ARGUS North Sea Dated crude price assessment
Argus methodology is always designed to reflect market practice. The Argus North Sea Dated price has evolved over time to incorporate market developments and participants have input into that process through regular engagement and formal consultations. It is intended to capture maximum market liquidity and transparency. Any changes are announced well in advance.
The Argus Crude methodology is publicly available and always current. Please follow this link to the latest version of this document, in which the Argus North Sea Dated assessment and all of our other crude assessments are explained. Argus editorial and business development staff are also available to answer specific queries on methodology. Please contact firstname.lastname@example.org.
Users of the ARGUS North Sea Dated crude price assessment
The Argus North Sea Dated assessment is used by physical market participants, tax authorities, financial entities, international organisations as a benchmark or reference for the price of North Sea crude, against which other grades of crude around the world can be measured.
It is often used in a basket with similar indexes produced by competing price reporting agencies, or as a proxy.