Argus US Crack Spread Forward Curves
Overview
Argus US Crack Spread Forward Curves service is an independent market valuation tool to support investment and trading decisions in North American oil markets. The service provides daily differential forward prices between key refined oil products and various crude grades.
Our clients act with confidence because our forward curves are built from unbiased and transparent industry-specific methodologies that produce representative market values free from distortion.
Key features
Daily assessments
Daily assessments for 45 crack spread markets, providing a rolling 24 month view of monthly forward prices.
Key differentials
Price differences between crude oil and refined product markets across North America.
Time-stamped
Time-stamped at 6 p.m. CPT time, in alignment with Argus’ physical settlement price assessments.
Robust methodology
Independent and transparent market-appropriate methodology.
Delivery options
Receive our forward curve data via data feed, third-party channel partners, our client portal or via email.
Customers that benefit
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Exploration and production companies
Use our curves services to determine commitments for the coming fiscal year.
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Refineries
Use curves to inform hedging decisions when securing refined oil supplies and to analyse margins at their facilities.
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Risk managers
Use our forward curves data for unbiased, third-party curve validation against counterparties, internal valuations, and for mark-to-market purposes for daily profit and loss assessments.
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Traders
Rely on our extensive historical analysis to determine locational and temporal spread relationships and use prior day curves on a daily basis as a reference when entering the market the following morning.
Product specifications
- Gulf Coast Gasoline-M2 (9.0 RVP)
- Gulf Coast ULSD
- Gulf Coast Jet Fuel
- Chicago CBOB
- Chicago RBOB
- Chicago ULSD
- Chicago Jet Fuel
- Group 3 CBOB
- Group 3 ULSD
- LA reg CARBOB
- LA ULSD
- LA Jet Fuel
- NY Harbor RBOB
- NY Harbor ULSD
- NY Harbor Jet Fuel
- WTI Houston
- WTL Midland
- LLS
- WCS
- ANS
- Brent
- Multi crack forwards
- Single crack forwards
- Excel format
- Excel add-in
- FTP – CSV file
- API – CSV file
- Argus Direct client portal
- Argus Date Science Studio
- Third party channel partners
Argus forward curves are a proven, reliable tool for analytical and risk-management processes, including:
- Mark-to-market (MTM) accounting
- Value-at-risk (VaR)
- Potential future exposure (PFE)
- Deal valuation
- Regression analysis
- Scenario analysis
- Valuing option premiums associated with forward crude contracts
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
Argus RME biodiesel
The Argus RME (rapeseed oil methyl ester) price assessment is a key biofuel benchmark for Europe. The price assessment is used to price swaps and physical deals and in clearing and settlement through exchanges.
Argus European RED marine biodiesel indexes
Argus B24 (UCOME) dob West Med, Argus B30, B100 (Advanced Fame 0) dob ARA, Argus B30 (UCOME) fob ARA.
Gasoil diesel 50ppm fob offshore Lome STS cargo
The market’s first and only price assessment of low sulphur gasoil cargo for West Africa.
Argus steel scrap cfr Taiwan
The LME Steel Scrap CFR Taiwan (Argus) is a cash settled futures contract based on the reported arithmetic monthly average of Argus’ Ferrous scrap HMS 1/2 (80:20) containerised CFR Taiwan price.
US physical trade month
In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.
US coking coal
Argus provides three fob Hampton Roads coking coal price assessments — low-volatile, high-volatile type A (HVA) and high-volatile type B (HVB).
Petroleum coke: Argus fob USGC high sulphur coke index
The Argus fob US Gulf 6.5pc sulphur 40 HGI petroleum coke index is the benchmark price reference for coke originating in the US Gulf and midcontinent and shipping to the seaborne market.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Baltic wood pellet
The fob Baltic wood pellet price assessment is the price reference for wood pellets sold out of Baltic ports in the 90-day spot window. It is also known as Argus fob Riga.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus waterborne fob Gulf asphalt
The US Gulf coast is a significant region for asphalt exports, and the swiftly changing nature of crude slates has increased the need for transparent benchmarks that accurately reflect prices.
Argus USGC Group I and Group II fob
Independent price assessments capturing the value of group I and II base oils exported from the US Gulf Coast.
Argus US West Coast SAF
Using real market transactions to accurately reflect the supply and demand dynamics of this low carbon fuel.
Argus RME biodiesel
The Argus RME (rapeseed oil methyl ester) price assessment is a key biofuel benchmark for Europe. The price assessment is used to price swaps and physical deals and in clearing and settlement through exchanges.
Argus European RED marine biodiesel indexes
Argus B24 (UCOME) dob West Med, Argus B30, B100 (Advanced Fame 0) dob ARA, Argus B30 (UCOME) fob ARA.
Gasoil diesel 50ppm fob offshore Lome STS cargo
The market’s first and only price assessment of low sulphur gasoil cargo for West Africa.
Argus steel scrap cfr Taiwan
The LME Steel Scrap CFR Taiwan (Argus) is a cash settled futures contract based on the reported arithmetic monthly average of Argus’ Ferrous scrap HMS 1/2 (80:20) containerised CFR Taiwan price.
US physical trade month
In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.
US coking coal
Argus provides three fob Hampton Roads coking coal price assessments — low-volatile, high-volatile type A (HVA) and high-volatile type B (HVB).
Petroleum coke: Argus fob USGC high sulphur coke index
The Argus fob US Gulf 6.5pc sulphur 40 HGI petroleum coke index is the benchmark price reference for coke originating in the US Gulf and midcontinent and shipping to the seaborne market.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Baltic wood pellet
The fob Baltic wood pellet price assessment is the price reference for wood pellets sold out of Baltic ports in the 90-day spot window. It is also known as Argus fob Riga.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus waterborne fob Gulf asphalt
The US Gulf coast is a significant region for asphalt exports, and the swiftly changing nature of crude slates has increased the need for transparent benchmarks that accurately reflect prices.
Argus USGC Group I and Group II fob
Independent price assessments capturing the value of group I and II base oils exported from the US Gulf Coast.
Argus US West Coast SAF
Using real market transactions to accurately reflect the supply and demand dynamics of this low carbon fuel.
Argus RME biodiesel
The Argus RME (rapeseed oil methyl ester) price assessment is a key biofuel benchmark for Europe. The price assessment is used to price swaps and physical deals and in clearing and settlement through exchanges.
Argus European RED marine biodiesel indexes
Argus B24 (UCOME) dob West Med, Argus B30, B100 (Advanced Fame 0) dob ARA, Argus B30 (UCOME) fob ARA.
Gasoil diesel 50ppm fob offshore Lome STS cargo
The market’s first and only price assessment of low sulphur gasoil cargo for West Africa.
Argus steel scrap cfr Taiwan
The LME Steel Scrap CFR Taiwan (Argus) is a cash settled futures contract based on the reported arithmetic monthly average of Argus’ Ferrous scrap HMS 1/2 (80:20) containerised CFR Taiwan price.
US physical trade month
In the US, the crude industry utilizes a physical trade month, that is not based on a typical calendar month nor the Nymex futures contract schedule.
US coking coal
Argus provides three fob Hampton Roads coking coal price assessments — low-volatile, high-volatile type A (HVA) and high-volatile type B (HVB).
Petroleum coke: Argus fob USGC high sulphur coke index
The Argus fob US Gulf 6.5pc sulphur 40 HGI petroleum coke index is the benchmark price reference for coke originating in the US Gulf and midcontinent and shipping to the seaborne market.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Baltic wood pellet
The fob Baltic wood pellet price assessment is the price reference for wood pellets sold out of Baltic ports in the 90-day spot window. It is also known as Argus fob Riga.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus waterborne fob Gulf asphalt
The US Gulf coast is a significant region for asphalt exports, and the swiftly changing nature of crude slates has increased the need for transparent benchmarks that accurately reflect prices.
Argus USGC Group I and Group II fob
Independent price assessments capturing the value of group I and II base oils exported from the US Gulf Coast.
Argus US West Coast SAF
Using real market transactions to accurately reflect the supply and demand dynamics of this low carbon fuel.
Related documents
Methodology
Get the most up-to-date guide to the methodology used to ensure the prices published in the Argus US Crack Spread Forward Curves are free from distortion and representative of spot market values.
Forward curves primer
An introduction to forward curves – what are they, how are they produced and why do they matter.
