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.
Famous quotes containing the word crude:
“There has been something crude and heartless and unfeeling in our haste to succeed and be great. Our thought has been “Let every man look out for himself, let every generation look out for itself,” while we reared giant machinery which made it impossible that any but those who stood at the levers of control should have any chance to look out for themselves.”
—Woodrow Wilson (1856–1924)