Difference between revisions of "Argus Sour Crude Index"

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Latest revision as of 21:21, 7 January 2014

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The Argus Sour Crude Index (ASCI) is an index published by Argus Media. The index was adopted by Saudi Aramco in October of 2009 to set prices for oil sold by Aramco in the U.S., in place of the West Texas Intermediate benchmark contract offered by the CME Group’s New York Mercantile Exchange.[1] [2]

The oil tracked in the Argus index is delivered at the Gulf Coast, whereas the delivery point for NYMEX underlying oil is Cushing, Oklahoma.

In response, CME Group announced the launch of trading and clearing services for cash-settled trade-month swap futures on the Argus Sour Crude Index, to begin on November 23, 2009.