International Reference Benchmarks

International Reference BenchmarksPharez2026-05-19T12:38:58+01:00

DATE

Brent Crude Oil

Bonny Light Crude Oil

ICE Gasoil Futures

Brent Crude Oil

WTI Crude Oil

Bonny Light Crude Oil

ICE Gasoil Futures

WTI Crude Oil

May

18, 2026

May 18, 2026

112.10

USD/Barrel

112.10

USD/Barrel

102.45

USD/Barrel

116.99

USD/Barrel

102.45

USD/Barrel

116.99

USD/Barrel

1,233.50

USD/ton

1,233.50

USD/ton

Brent Crude is a major trading classification of sweet light crude oil that serves as a benchmark price for oil globally, particularly in Europe, Africa, and the Middle East.

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.

Frequently Asked Questions

What is MEMAN?Nnene2024-08-18T13:43:16+01:00

What is MEMAN?

MEMAN stands for Major Energies Marketers Association of Nigeria. An energy industry association comprising 11 Plc (formerly Mobil), Ardova Plc, Conoil Plc, MRS Oil Nigeria Plc, NNPC Retail Limited, and TotalEnergies Marketing Nigeria Plc.

What sectors does MEMAN focus on?Nnene2024-08-18T13:45:46+01:00

What sectors does MEMAN focus on?

MEMAN focuses on the oil, gas, and renewable energy sectors, with specific emphasis on CNG and LPG for gas, solar energy and ethanol for renewable energy.

How does MEMAN promote transparency in the energy industry?Nnene2024-08-18T13:48:34+01:00

How does MEMAN promote transparency in the energy industry?

MEMAN promotes transparency by providing up-to-date information on fuel prices, stock market prices, and industry news on our website. We also engage in regular advocacy for compliance with industry regulations and ethical practices.

What is the purpose of MEMAN’s Competency Centre?Nnene2024-08-18T13:50:11+01:00

What is the purpose of MEMAN’s Competency Centre?

The Competency Centre is dedicated to fostering knowledge and skills within the energy industry, offering training, resources, and industry insights to help professionals stay informed and compliant with the latest standards and regulations.

How does MEMAN contribute to sustainable energy solutions?Pharez2024-08-18T13:51:44+01:00

How does MEMAN contribute to sustainable energy solutions?

MEMAN advocates for cleaner and more sustainable energy solutions through the promotion of natural gas (CNG & LPG), solar power and biofuels like ethanol. We also work closely with partners to encourage the adoption of renewable energy practices in Nigeria.

How can I stay updated on MEMAN’s activities and industry news?Pharez2024-08-18T13:55:17+01:00

How can I stay updated on MEMAN’s activities and industry news?

You can stay updated by visiting our website, where we provide regular updates through our industry news, Competency Centre Bulletin, and weekly reports. You can also subscribe to our mailing list by registering at the competency centre, for direct updates.

How does MEMAN ensure compliance with industry standards?Pharez2024-08-18T14:08:18+01:00

How does MEMAN ensure compliance with industry standards?

MEMAN advocates for strict adherence to industry regulations and ethical practices. We provide guidance and resources to help companies stay compliant and regularly engage with regulatory bodies to influence positive change in the industry.

How can I get involved with MEMAN?Pharez2024-08-18T14:10:43+01:00

How can I get involved with MEMAN?

You can get involved with MEMAN by participating in our training programs, attending our webinars, subscribing to our newsletter, or collaborating with us on projects that align with our mission of promoting transparency and sustainability in the energy industry. You can also apply to become a member by going to our membership page.

Mail: info@meman.org.ng

Phone: 020-1453-6155

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