Argus Americas Crude

Argus Americas Crude covers crude oil markets across the US, Canada and Latin America, including:

• US Gulf coast: LLS, HLS, Mars, Poseidon, Southern Green Canyon, WTI Houston, WTL, WTS and Thunderhorse.
• US midcontinent: WTI Cushing, Bakken, DJ Light, Niobrara and Guernsey Light.
• US west coast: Alaska North Slope (ANS).
• Canada: WCS, Cold Lake, Condensate, Syncrude, MSW, CDB and AWB at domestic hubs; WCS and Cold Lake at Houston and Cushing.
• Latin America: Waterborne grades from Mexico, Colombia, Brazil and beyond.

Argus Americas Crude is a daily price report providing independent crude oil price assessments, differentials, news and analytics across the US, Canada and Latin America. It delivers prices for key grades including WTI, LLS, Mars, WCS and ANS, alongside deals done data, market commentary and industry news, accessible via Argus Direct^®, the daily PDF and data feeds.

Argus Americas Crude prices are published daily on each Argus publication day, at the end of the trading day. The full publishing schedule is available at argusmedia.com. Argus may not publish on certain public holidays due to anticipated illiquidity in the cash spot markets.

Argus Americas Crude is available through multiple delivery channels:

• Argus Direct^®: The online client portal providing real-time price assessments, market commentary, interactive dashboards and downloadable reports.
• End-of-day PDF: A daily report containing all prices, news, deals done and market analysis.
• Data feeds: Electronic files compatible with databases and analytics platforms.
• API: For direct system integration.
• Third-party platforms: Available via integrated data partners.

Argus Americas Crude publishes same-day market news and analysis, including:

• Daily crude market commentary identifying the drivers behind benchmark price movements.
• Infrastructure news covering outages, maintenance and shutdowns at major facilities across North and South America.
• Trade flow analysis and supply and demand developments across covered markets.
• Deals done, bids and offers published each day with grade, location, basis, price and volume detail.

Argus assesses WTI prices across multiple locations. WTI Midland is assessed as a volume-weighted average of spot trades, expressed as a differential to Nymex light sweet crude futures settlement. WTI Houston is assessed as the most transparent WTI price indicator on the US Gulf coast. Argus applies crude basis differential transactions to the WTI settlement price to arrive at fixed prices, an approach endorsed by industry acceptance.

Each daily report includes a deals done table covering reported transactions across Americas crude markets. Each entry includes:

• Grade.
• Location.
• Trade month.
• Basis.
• Price.
• Volume.

 

This enables subscribers to cross-check assessments against actual market activity and verify price movements.

Yes. Argus Americas Crude provides price histories for every key Americas crude grade, extending back to when each assessment was first published. Forward curves and locational spreads for key grades are also available, supporting trend analysis, risk modelling and commercial planning.

Crude oil prices change daily based on supply and demand expectations. Key drivers include OPEC+ production decisions, global economic growth, refinery demand, inventory reports, geopolitical events, weather-related disruptions, currency movements, and changes in futures-market trading. Prices may rise when supply risks increase or demand is expected to strengthen, and fall when production expands, inventories build, or economic activity slows.

OPEC decisions influence crude oil prices primarily by changing expectations about global oil supply. When OPEC announces production cuts, the anticipated reduction in available crude can push prices higher, especially if demand remains strong or inventories are low. Conversely, decisions to increase production may place downward pressure on prices by creating expectations of greater supply.

The effect depends on several factors, including the size and credibility of the policy change, member compliance, global demand, geopolitical events, and oil stockpiles. OPEC decisions do not always cause immediate or lasting price movements because traders may have already anticipated the announcement or because production changes take time to affect the market. In addition, non-OPEC producers, such as the United States, can offset or amplify OPEC’s actions.

WTI crude oil price is the market price of West Texas Intermediate, a high-quality, light, sweet crude oil used as a key benchmark for oil prices in the United States and worldwide. It is commonly quoted in U.S. dollars per barrel.

The WTI price is set through global supply and demand, with futures contracts traded primarily on the New York Mercantile Exchange (NYMEX), part of CME Group. Buyers and sellers continuously trade these contracts, and the resulting market activity determines the benchmark price. Factors such as crude oil production, refinery demand, inventories, geopolitical events, weather, economic conditions, and expectations about future supply and demand can cause the price to rise or fall.

The physical delivery point for the NYMEX WTI contract is Cushing, Oklahoma, a major U.S. oil storage and transportation hub. The quoted futures price reflects market expectations for delivery and helps establish the reference price for many physical crude oil transactions.

Inventory reports can significantly influence crude oil prices because they reveal changes in supply and demand. When inventories rise more than expected, it often signals weaker demand or oversupply, which can put downward pressure on prices. Conversely, a larger-than-expected inventory draw usually suggests stronger demand or tighter supply, potentially pushing prices higher.

Market reactions also depend on expectations, the size of the change, and details such as refinery activity, imports, exports, and gasoline inventories. Reports from organizations such as the U.S. Energy Information Administration (EIA) are closely monitored, and prices may move sharply if the data differs from analyst forecasts. However, inventory reports are only one factor affecting crude oil prices; geopolitical events, OPEC+ production decisions, economic conditions, and currency movements also play important roles.