Dubai Crude Oil
Dubai Crude, also known as Fateh, is a light sour crude oil extracted from Dubai. Dubai Crude is used as a benchmark for pricing exports of Persian Gulf sour crude oil to Asia. The other two main global oil price benchmarks are the Brent Crude and West Texas Intermediate (WTI).
Middle Eastern Crude Oil (average value of Dubai and Oman) is traded at the Tokyo Commodity Exchange (TOCOM) under ticker symbol 33. Contract size is 50 kl (approximately 314,5 barrels). Settlement of contract consists of cash-settled futures transaction.