International Reference Benchmarks

WTI Crude (West Texas Intermediate) is a major trading classification of sweet light crude oil that serves as a benchmark price for oil globally, particularly in the United States and North America.

Bonny Light is a high-grade Nigerian sweet light crude oil known for its low sulfur content and high API gravity. It serves as a benchmark for African crude oil exports and is highly sought after in international markets, particularly in Europe and North America, due to its ease of refining and high yield of valuable products.

ICE Futures Europe—Low Sulphur Gasoil Futures is a key energy product traded on the Intercontinental Exchange (ICE). It is used as a benchmark for diesel and heating oil prices in Europe. It represents low-sulphur gasoil, a refined petroleum product, and plays a vital role in pricing diesel fuel and other distillates in the global market.