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Dubai Crude
Dubai Crude is a medium sour crude oil extracted from Dubai. Dubai Crude is used as a price benchmark or oil marker because it is one of only a few Persian Gulf crude oils available immediately. There are two other main oil markers: Brent Crude and West Texas Intermediate. Dubai Crude is generally used for pricing Persian Gulf crude oil exports to Asia. The Dubai benchmark is also known as Fateh, used in the United Arab Emirates. Forward trade of Dubai Crude is limited to one or two months. Dubai Crude is a medium oil. It has a gravity of 31° API (specific gravity of 0.871) and a sulfur content of 2%/weight. Supplement 3 (1997), ''Oil Trading Manual'', Long, D. (Ed.), Cambridge: Woodhead Publishing Limited. See also *DME Oman Crude Oil Futures Contract *List of crude oil products *Petroeuro *Benchmark (crude oil) A benchmark crude or marker crude is a Petroleum, crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dubai Crude Oil
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of the Middle East and North Africa. D Long, B Reich. p.157 Established in the 18th century as a small fishing village, the city grew rapidly in the early 21st century with a focus on tourism and luxury, having the second most five-star hotels in the world, and the tallest building in the world, the Burj Khalifa, which is tall. In the eastern Arabian Peninsula on the coast of the Persian Gulf, it is also a major global transport hub for passengers and cargo. Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. A centre for regional and international trade since the early 20th century, Dubai's economy relies on revenues from trade, tourism, aviation, real estate, and financial services. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forward Contract
In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or sell an asset at a specified future time at a price agreed on at the time of conclusion of the contract, making it a type of derivative instrument.John C Hull'', Options, Futures and Other Derivatives (6th edition)'', Prentice Hall: New Jersey, USA, 2006, 3 The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the ''delivery price'', which is equal to the forward price at the time the contract is entered into. The price of the underlying instrument, in whatever form, is paid before control of the instrument changes. This is one of the many forms of buy/sell orders where the time and date of trade is not the same as the value date where the securities themselves are exchanged. Forwards, like other derivative securities, can b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmark Crude Oils
Benchmark may refer to: Business and economics * Benchmarking, evaluating performance within organizations * Benchmark price * Benchmark (crude oil), oil-specific practices Science and technology * Benchmark (surveying), a point of known elevation marked for the purpose of surveying * Benchmarking (geolocating), an activity involving finding benchmarks * Benchmark (computing), the result of running a computer program to assess performance * Benchmark, a best-performing, or gold standard test in medicine and statistics Companies * Benchmark Electronics, an electronics manufacturer * Benchmark (venture capital firm), a venture capital firm * Benchmark Recordings, a music label with CDs by the Fabulous Thunderbirds and Mike Bloomfield Other uses * ''Benchmarking'' (journal), a bimonthly peer-reviewed academic journal relating to the field of quality management * McAfee's Benchmark, a brand of bourbon * ''Benchmark'' (game show), on UK Channel 4 See also * Specification (technical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroeuro
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: #Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations. #Currencies of oil-producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls). #Pricing of oil in US dollars: currencies used as a unit of account to price oil in the international market. Oil-producers' trading surpluses "Petrocurrency" or (more commonly) "petrodollars" are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway. Especially during periods of historically expensive oil, the associated financial flows can reach a scale of hundreds of billions of US dollar-equivalents per year – including a wide range of transactions in a variety of currencies, some pegged to the US dollar and some not. Currencies correlated with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Crude Oil Products
In the international petroleum industry, crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms. The chemical profiles, or crude oil assays, specify important properties such as the oil's API gravity. The delivery locations are usually sea ports close to the oil fields from which the crude was obtained (and new fields are constantly being explored), and the pricing is usually quoted based on FOB (''free on board'', without consideration of final delivery costs). Benchmarks The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price, which is typically priced $5 to $6 above the EIA's Imported Refiner Acquisition Cost ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DME Oman Crude Oil Futures Contract
Launched by the Dubai Mercantile Exchange (DME) on 1 June 2007, the DME Oman Crude Oil Futures Contract (OQD) is the Asian crude oil pricing benchmark. The contract is traded on the CME Group’s electronic platform CME Globex, and cleared through CME Clearport. Contract specifications Statistics ''*: the exchanged opened on 1 June 2007.'' DME Oman linked contracts On 5 December 2010, NYMEX launched six DME Oman-linked contracts, traded bilaterally and cleared through CME Clearport. These new DME Oman-linked contracts complement the OQD Futures contract and give market participants regulated and transparent Over-The-Counter (OTC) contracts. The contracts are: * DME Oman Crude Oil Swap Futures (DOO) * DME Oman Crude Oil BALMO Swap Futures (DOB) * ICE Brent vs. DME Oman Crude Oil Swap Futures (DBO) * DME Oman Crude Oil Average Price Option (DOA) * Singapore MOGAS 92 Unleaded (Platts) vs. DME Oman Crude Oil Swap Futures (DNB) * Singapore Gasoil (Platts) vs. DME Oman Crude Oil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relative Density
Relative density, or specific gravity, is the ratio of the density (mass of a unit volume) of a substance to the density of a given reference material. Specific gravity for liquids is nearly always measured with respect to water at its densest (at ); for gases, the reference is air at room temperature (). The term "relative density" (often abbreviated r.d. or RD) is often preferred in scientific usage, whereas the term "specific gravity" is deprecated. If a substance's relative density is less than 1 then it is less dense than the reference; if greater than 1 then it is denser than the reference. If the relative density is exactly 1 then the densities are equal; that is, equal volumes of the two substances have the same mass. If the reference material is water, then a substance with a relative density (or specific gravity) less than 1 will float in water. For example, an ice cube, with a relative density of about 0.91, will float. A substance with a relative density greater t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
API Gravity
The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water: if its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. API gravity is thus an inverse measure of a petroleum liquid's density relative to that of water (also known as specific gravity). It is used to compare densities of petroleum liquids. For example, if one petroleum liquid is less dense than another, it has a greater API gravity. Although API gravity is mathematically a dimensionless quantity (see the formula below), it is referred to as being in 'degrees'. API gravity is graduated in degrees on a hydrometer instrument. API gravity values of most petroleum liquids fall between 10 and 70 degrees. In 1916, the U.S. National Bureau of Standards accepted the Baumé scale, which had been developed in France in 1768, as the U.S. standard for measuring the specific gravity of liquids less den ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at the eastern end of the Arabian Peninsula and shares borders with Oman and Saudi Arabia, while having maritime borders in the Persian Gulf with Qatar and Iran. Abu Dhabi is the nation's capital, while Dubai, the most populous city, is an international hub. The United Arab Emirates is an elective monarchy formed from a federation of seven emirates, consisting of Abu Dhabi (the capital), Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. Each emirate is governed by an emir and together the emirs form the Federal Supreme Council. The members of the Federal Supreme Council elect a president and vice president from among their members. In practice, the emir of Abu Dhabi serves as president while the ruler of Dubai is vice pre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sour Crude Oil
Sour crude oil is crude oil containing a high amount of the impurity sulfur. It is common to find crude oil containing some impurities. When the total sulfur level in the oil is more than 0.5% (by weight), the oil is called "sour". The impurities need to be removed before this lower-quality crude can be refined into petrol, thereby increasing the cost of processing. This results in a higher-priced gasoline than that made from sweet crude oil. Current environmental regulations in the United States strictly limit the sulfur content in refined fuels such as diesel and gasoline. The majority of the sulfur in crude oil occurs bonded to carbon atoms, with a small amount occurring as elemental sulfur in solution and as hydrogen sulfide gas. Sour oil can be toxic and corrosive, especially when the oil contains higher levels of hydrogen sulfide, which is a breathing hazard. At low concentrations the gas gives the oil the smell of rotting eggs. For safety reasons, sour crude oil needs to be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area of , about 30% of Earth's total land area and 8.7% of Earth's total surface area. The continent, which has long been home to the majority of the human population, was the site of many of the first civilizations. Its 4.7 billion people constitute roughly 60% of the world's population. In general terms, Asia is bounded on the east by the Pacific Ocean, on the south by the Indian Ocean, and on the north by the Arctic Ocean. The border of Asia with Europe is a historical and cultural construct, as there is no clear physical and geographical separation between them. It is somewhat arbitrary and has moved since its first conception in classical antiquity. The division of Eurasia into two continents reflects East–West cultural, linguistic, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Texas Intermediate
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet, oil produced from any location can be considered WTI if the oil meets the required qualifications. Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content. The price of WTI is often included in news reports on oil prices, alongside the price of Brent crude from the North Sea. Other important oil markers include the Dubai crude, Oman crude, Urals oil, and the OPEC reference basket. WTI is lighter and sweeter, containing less sulfur than Brent, and considerably lighter and sweeter than Dubai or Oman. WTI crud ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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