Tapis crude is a Malaysian crude oil used as a pricing benchmark in Singapore. While it is not traded on a market like Brent Crude or West Texas Intermediate, it is often used as an oil marker for Asia and Australia. The price of Tapis in Singapore is commonly considerably higher than the price of crude oil commonly referred to in the market commentary heard on radio or television.
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“A refined soul is distressed to know that someone owes it thanks; a crude soul, to know that it owes someone thanks.”
—Friedrich Nietzsche (1844–1900)