The monthly, quarterly and yearly average crude oil spot prices are calculated from daily quotations from Argus Crude. Argus Crude provides prices that are used in third-party contracts, risk management contracts (such as swaps), underlying futures settlement prices, internal price transfer, internal benchmarking, mark-to-market assessment and market analysis. The assessed crude prices are based on prices from the open spot market whenever possible. Argus publishes prices that report and reflect prevailing levels for open-market arm's length transactions.
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