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:
“As our actual present world ... shows itself more clearly—our world of an aristocracy materialised and null, a middle-class purblind and hideous, a lower class crude and brutal—we shall turn our eyes again, and to more purpose, upon this passionate and dauntless soldier of a forlorn hope.”
—Matthew Arnold (1822–1888)