What it is
A medium-density crude oil with more sulphur than Brent or WTI. Together with Oman crude it is the reference for pricing oil from the Gulf sold to refiners in Asia.
How it is usually quoted
US dollars per barrel.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
The price is assessed from trading in physical cargoes; futures and swaps tied to it are listed on several exchanges.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Output decisions by the OPEC+ group
- Demand from refiners in China, India, Japan and South Korea
- Its price gap to Brent, which decides which crudes flow to Asia
- The safety of shipping through the Strait of Hormuz
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
The Gulf: Saudi Arabia, Iraq, the United Arab Emirates, Kuwait and Oman.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Dubai crude is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.