Just a reminder, BMG crude oil sales remain referenced to the Tapis Oil marker in South East Asia, which is trading well in excess of the WTI marker crude; the premium sometimes exceeding US$10 per barrel.
Tapis is used as the appropriate Australian crude marker because of the strong trade relationship Australia has with the region as a source for crude oil and also petroleum product imports.
The only “free” site, that displays Tapis US$ pricing (with conversion to A$) on a daily basis, that I have been able to locate is:
http://www.aip.com.au/pricing/marketwatch.htm
As provided by Sook, the following link should also be useful for Tapis daily prices:
http://www.upstreamonline.com/market_data/?id=markets_oil
Notes: (a) AIP publishes the Platts crude oil and product quotes for the purpose of price transparency and to assist in demonstrating that the movements in product prices follow the medium term movements in crude oil prices. The Platts Tapis quote was chosen as a representative regional crude oil price marker which is quoted daily and is based on the expected price of cargoes loading 15 to 45 days in the future.
(b) By utilising the Platts Tapis quote AIP does not intend to reflect the actual purchase prices of crude oil by individual AIP member companies. Consequently, appropriate care should be exercised when using this data to infer financial performance of individual companies. For AZA, the price realised depends on the day, for example, when the cargo of BMG oil is sold.
If anyone has any other free sites that displays daily Tapis US$ prices, can they let us know.
AZA
anzon australia limited
