The OfficialsThe deepest collection of live oil-market data and intelligence ever assembled

Pressure does not change an assessment. Facts do.

Twice daily. With the working shown.

Threatened three times. Published anyway.

We scrutinise the official prices the oil market trades on: the process, the methodology, and the activity inside the benchmark window. We publish what we find. And when the evidence raises uncomfortable questions for the biggest participants in this market, we publish those too.

Never stop reporting.

See what gets them so wound up
The PRA film

A very large market. A very small window.

Enormous volumes of physical crude can be priced against activity in a relatively small assessment window. A relatively small number of participants can therefore hold significant influence over a benchmark a much larger market depends on.

That is exactly why the window needs scrutiny. We watch the assessment period, and when something does not add up, we report it.

  • The bids
  • The offers
  • The trades
  • The methodology
  • The behaviour around it
Scale versus influence
CRUDE PRICED OFF THE BENCHMARK100m+ barrels a dayVOLUME THAT SHAPES THE ASSESSMENTa fraction of itPARTICIPANTS ABLE TO INFLUENCE ITIllustrative: the shape of the imbalance, not a measurement.

If you think we’re wrong, prove it.

Not with pressure. Not with a legal letter. With facts. If new evidence shows an assessment or a report is wrong, we correct the record. Publicly.

If the evidence holds, so does the assessment. That is the whole of it: there is no third option, and no version where the answer depends on who is asking.

Facts change our mind. Pressure doesn’t.

The price. The evidence. The process exposed.

A more transparent benchmark means less asymmetry between the participants inside the window and everyone whose oil is priced from it. Not controversy for its own sake. A market that can see how its prices are formed.

The Officials · methodology, accuracy, independence · available through Flux