Commercial form of oil (could be raw or slightly processed to match the trade specifications).

Popular examples of market crudes setting up oil price benchmarks:

• Light crude oil
  
  
  • Brent crude (API 38.06) oil
    
    
  • West Texas Intermediate (API 39.6)
    
    
  • Dubai Crude (API 31.0)
    
    
    
• Sweet crude oil
  
  
• Heavy crude oil
  
  
• Pennsylvania Grade Crude Oil
  
  
• Synthetic crude