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BrentICE
$108.82/bbl
+0.03%Δ Day
Updated 21 Oct 2026
WTINYMEX
$97.15/bbl
—Δ Day
Updated 21 Oct 2026
DubaiCash
$110.98/bbl
+0.25%Δ Day
Updated 21 Oct 2026
Dated BrentPhysical
$119.78/bbl
+1.41%Δ Day
Updated 21 Oct 2026
RebarFOB Turkey
$610.00/mt
0.00%Δ Day
Updated 21 Oct 2026
ULSD 10 ppmCIF NWE
$1470.50/mt
-1.11%Δ Day
Updated 21 Oct 2026
Granular UreaFOB Middle East
$455.00/mt
0.00%Δ Day
Updated 21 Oct 2026
Russian Wheat 12.5%FOB Russia
$203.00/mt
+0.50%Δ Day
Updated 21 Oct 2026
Corn BrazilFOB Brazil
$218.50/mt
+0.34%Δ Day
Updated 21 Oct 2026
Methodology library

CommodityScope Methodology Library

These documents define the markets CommodityScope publishes, how assessments and modelled indicators are calculated, and the rules that govern publication, versioning and correction.

How to read this library

Navigation is Framework → Methodologies → Series Specifications.

  1. CommodityScope Assessment & Publication Framework— publication classes, historical integrity, versioning and governance. No universal midpoint or range formula.
  2. Methodologies — family and model documents that define how each market or modelled product is assessed and published, including different publication classes inside a family.
  3. Series Specifications — the market represented by one CS series, nested under its governing methodology.

Framework

Assessment Methodologies

Series specifications are listed under their governing methodology.

Family methodology

Oil Products & Physical Crude Methodology

CS-METH-OIL · Version 1.0 · Current

Specifications

94 more specifications under this methodology.

Family methodology

Grain Assessment Methodology

CS-METH-GRAIN · Version 1.2 · Current

Specifications

56 more specifications under this methodology.

Family methodology

Fertilizer Assessment Methodology

CS-METH-FERT · Version 1.1 · Current

Specifications

26 more specifications under this methodology.

Family methodology

Steel Assessment Methodology

CS-METH-STEEL · Version 1.0 · Current

Specifications

152 more specifications under this methodology.

Family methodology

Dirty Tanker Freight Methodology

CS-METH-DIRTY · Version 1.0 · Current

Specifications

97 more specifications under this methodology.

Family methodology

Clean Tanker Freight Methodology

CS-METH-CLEAN · Version 1.0 · Current

Specifications

106 more specifications under this methodology.

Family methodology

Dry Freight Methodology

CS-METH-FREIGHT · Version 1.0 · Current

Specifications

98 more specifications under this methodology.

Model & Reference Methodologies

Model and reference methodologies are separate from assessment families. Where standalone specifications are issued for individual model outputs or reference series, they are listed under their governing methodology.

Topic references

Page anchors that point to governing documents in the library above.

Assessment Range

Family-specific, not a universal algorithm. Oil, Grain, Fertilizer, Steel, Dirty Tanker, Clean Tanker, Dry Freight, Publication Framework.

Reference Market Series

Reference Series Publication Methodology · Publication classes.

Crude Oil & Modelled Delivered Cost

Oil Methodology · Dirty Tanker · Crude Delivered Cost.

Cross-product publication policies

Rules that apply alongside the family and model methodologies above. Reference Market Series are described in the Reference Series Publication Methodology.

1. Forward Curves

CommodityScope may maintain tenor-specific forward market series.

Each tenor is maintained according to its stated delivery month, quarter or other delivery period.

Forward tenors are separate observations and are not automatically interpolated between adjacent periods unless the applicable methodology specifically provides for interpolation.

Where a page presents a headline forward value, the applicable headline basis is identified separately from the full forward curve.

A forward-market series is not automatically equivalent to the physical spot assessment for the same commodity.

2. Market Spreads

CommodityScope may calculate and publish spreads between clearly defined market series.

A spread normally represents the arithmetic relationship between the specified legs under the published sign convention.

Where applicable, spread definitions identify:

  • underlying market legs;
  • currency;
  • unit;
  • timing basis;
  • sign convention.

CommodityScope spread calculations are maintained separately from physical commodity assessments. A spread is not a separate executable commodity quotation.

3. Inventories and Fundamental Market Data

CommodityScope may maintain inventories, stocks, flows or other fundamental market series relevant to commodity-market analysis.

Fundamental data is distinguished from a CommodityScope price assessment.

Such information may be used for:

  • market context;
  • historical comparison;
  • analytical validation;
  • editorial market analysis;
  • model inputs where applicable.

Publication through CommodityScope systems does not by itself convert fundamental data into a CommodityScope price assessment.

4. Production Cost and Economic Models

CommodityScope may publish modelled production-cost, nutrient-value or other commodity-economics indicators.

Where a value is classified as a CommodityScope Modelled Indicator, it is calculated according to a defined CommodityScope model.

Model inputs may include:

  • feedstock prices;
  • energy inputs;
  • commodity prices;
  • conversion assumptions;
  • transportation inputs;
  • operating assumptions;
  • other economically relevant variables.

Such indicators represent standardized analytical estimates. They are not statements of the actual cost, margin, efficiency or economics of a particular producer, refinery, fertilizer plant or other facility.

5. Freight Assessments

CommodityScope maintains freight assessments across relevant physical commodity markets.

Freight assessments may cover:

  • clean petroleum products;
  • dirty petroleum cargoes;
  • LPG;
  • fertilizer cargoes;
  • grains and agricultural bulk cargoes;
  • other commodity-related freight markets.

Each freight assessment is maintained according to a defined freight basis.

Depending on the series, that basis may include:

  • loading region or port;
  • discharge region or port;
  • commodity or cargo type;
  • vessel class;
  • cargo or parcel size;
  • unit;
  • frequency.

Freight assessments are generally expressed in USD per metric tonne, unless otherwise stated.

They represent indicative market freight levels and are not:

  • confirmed fixtures;
  • shipowner offers;
  • charterer bids;
  • charter-party terms;
  • vessel-availability confirmations.

6. Tanker Freight Assessments

CommodityScope tanker freight assessments are maintained as separate USD/mt series according to the published trade lane, vessel class and cargo basis.

Different vessel classes or cargo sizes on the same trade lane remain separate CommodityScope series.

One trade-lane page may therefore contain multiple independently maintained assessment bases.

Grouping series on one page does not blend their values or make their bases interchangeable.

Dirty tanker freight assessments are described in the Dirty Tanker Freight Methodology. Clean tanker freight assessments are described in the Clean Tanker Freight Methodology.

7. Dry-Bulk, Grain and Fertilizer Freight

Dry bulk grain and fertilizer voyage freight assessments are described in the Dry Freight Methodology.

8. LPG Freight

CommodityScope LPG freight assessments are maintained separately from clean and dirty petroleum tanker freight.

An LPG freight basis may use a defined cargo-size or gas-carrier size range where a specific vessel class is not part of the assessment definition.

CommodityScope does not infer a specific gas-carrier class where that characteristic is not included in the published series basis.

LPG freight series are described in the Clean Tanker Freight Methodology.

9. Demurrage Indicators

CommodityScope may maintain demurrage indicators for defined vessel classes and markets.

A demurrage indicator represents an indicative daily delay-cost market level under the stated basis.

It does not establish:

  • agreed laytime;
  • contractual demurrage;
  • vessel-specific delay charges;
  • charter-party terms.

Demurrage indicators remain separate from freight assessments and CommodityScope TCE calculations.

10. CommodityScope Tanker TCE Indicators

CommodityScope Tanker Time Charter Equivalent Indicators are described in the Voyage TCE Model Methodology.

11. CommodityScope Tanker Freight Indices

CommodityScope Tanker Freight Indices are independently calculated from published CommodityScope tanker freight assessment series.

The index is calculated from published CommodityScope freight series as constituents. It does not use TCE values as index constituents.

Base

  • Base value: 1,000
  • Base date: 1 September 2026

The base definition remains fixed. Any earlier reconstructed history is treated as a backcast and does not change the published base.

Class Indices

CommodityScope maintains class indices for:

  • MR;
  • LR1;
  • LR2;
  • Aframax;
  • Suezmax;
  • VLCC.

Each class index uses a defined constituent basket and published weights.

Headline Indices

The CommodityScope Clean Tanker Freight Index is chain-linked from the daily returns of MR, LR1 and LR2.

The CommodityScope Dirty Tanker Freight Index is chain-linked from the daily returns of Aframax, Suezmax and VLCC.

Headline indices use defined class-index weights.

Calculation

For each constituent:

Return = Current Assessment / Previous Assessment − 1

The weighted constituent return is then applied to the previous index value. Indices are expressed in points. They do not represent absolute freight levels.

Missing Constituents

Up to two scheduled assessment days without a new constituent observation, the latest published constituent value may be carried forward with a zero return.

After two missed scheduled observations, the constituent is considered unavailable.

Where unavailable published weight does not exceed 20%, remaining weights may be renormalized. Where unavailable weight exceeds 20%, the index is not published for that date.

Review

  • Constituent review: quarterly.
  • Weight review: semi-annual.

12. Assessment Dates and Frequency

CommodityScope records assessments and observations according to the date associated with the applicable market series.

Assessment frequencies may include:

  • daily;
  • scheduled daily;
  • weekly;
  • other explicitly stated frequencies.

A value remains associated with its original assessment date.

CommodityScope does not normally present an unchanged historical value as a new market assessment solely because no new observation exists.

Missing dates may remain absent unless the applicable methodology explicitly provides for carry-forward or interpolation.

13. Incomplete Histories

CommodityScope market histories may contain gaps.

Where available history is materially incomplete, the relevant market page may disclose:

  • available observation count;
  • expected observation count;
  • longest observed gap.

Monthly averages and historical statistics use available observations only unless otherwise stated.

Historical statistics use published observations. Reconstructed history is identified separately.

14. Latest Changes

Latest change normally compares the two most recent available observations belonging to the same CommodityScope series.

For a daily market:

Latest Change = Latest Assessment − Previous Available Assessment

Percentage change is calculated against the previous available assessment.

For weekly markets, the comparison is identified as a weekly-assessment comparison. The interval between observations may exceed one calendar day.

15. Monthly Statistics

Monthly averages are calculated from observations available during the applicable calendar month.

The current incomplete month is identified as month to date.

Weekly-series monthly statistics represent the average of the weekly observations available in that month and are not converted into synthetic daily values.

16. Minimum and Maximum

Historical minimum and maximum statistics are calculated from the observations available for the stated period.

CommodityScope does not describe a value as an all-time market record unless the available history supports such a statement. Historical extrema may instead be described as the highest or lowest value in the available CommodityScope history.

17. Cross-Market Comparisons

CommodityScope may compare two market series only where the comparison is analytically meaningful.

Currency, unit, basis, date and other commercially relevant characteristics remain material.

A numerical difference between two series does not imply that the two assessment bases are interchangeable.

18. Market Evidence and Analytical Judgment

Physical commodity and freight markets vary significantly in liquidity and transparency.

CommodityScope evaluates the relevance and comparability of information according to the defined series basis.

Where direct evidence is available, it may receive greater analytical significance.

Where direct market evidence is limited, CommodityScope may use:

  • related-market information;
  • historical relationships;
  • physical economics;
  • freight economics;
  • model-derived information;
  • other relevant analytical evidence.

CommodityScope does not imply that every assessment is supported by a completed physical transaction.

19. Market Submissions

CommodityScope may receive market information from participants in physical commodity and freight markets.

Submitters may include:

  • producers;
  • refiners;
  • traders;
  • buyers;
  • sellers;
  • brokers;
  • shipowners;
  • charterers;
  • logistics providers;
  • other market participants.

Submissions may include:

  • transactions;
  • bids;
  • offers;
  • price indications;
  • freight indications;
  • vessel-market information;
  • physical supply or demand information.

Submission does not guarantee inclusion in an assessment. CommodityScope retains analytical discretion regarding relevance, comparability and eligibility. Confidential information is not publicly attributed without appropriate authorization.

20. Data Quality and Validation

CommodityScope applies validation and quality-control procedures to market observations and published series.

Controls may identify:

  • inconsistent observations;
  • stale information;
  • duplicates;
  • anomalous values;
  • incompatible bases;
  • invalid units;
  • missing data;
  • structurally inconsistent relationships.

Validation may use:

  • market history;
  • related physical markets;
  • freight relationships;
  • analytical models;
  • statistical checks;
  • relevant market-reference information.

CommodityScope may exclude or withhold data that does not satisfy the applicable publication requirements.

21. Publication Layer and Historical Snapshots

CommodityScope maintains published assessment and model records separately from raw market observations.

Published records constitute the historical CommodityScope series.

Published records retain their assessment date and methodology version. Later changes to input data, calculation rules or methodology do not silently overwrite the previously published historical record. Corrections preserve the audit history.

This separation supports:

  • reproducibility;
  • historical consistency;
  • methodology versioning;
  • correction control;
  • downstream model integrity.

22. Methodology Versioning

CommodityScope methodologies, model assumptions and series definitions may carry explicit versions and effective-date windows.

A methodology revision applies according to its effective date.

Historical observations published under a closed methodology version remain associated with that version unless CommodityScope explicitly publishes a correction or historical restatement.

New market coverage does not necessarily constitute a methodology change where the existing methodology is applied without modification.

23. Corrections

CommodityScope distinguishes between:

Correction — correction of erroneous data, coding, calculation or publication.

Methodology Revision — a change to the analytical rules, assumptions or calculation method.

Corrections are not silently represented as later market movements.

Where appropriate, dependent charts, statistics, models or indices may be recalculated after a correction.

24. Methodology Changes

CommodityScope periodically reviews its methodologies.

Changes may include revisions to:

  • assessment basis;
  • eligible inputs;
  • normalization procedures;
  • model assumptions;
  • series composition;
  • calculation rules;
  • publication frequency;
  • market profiles.

Where a change materially affects interpretation, CommodityScope may:

  • publish an updated methodology version;
  • establish a replacement series;
  • disclose the change;
  • produce a separately identified backcast where appropriate.

25. External Market Information

CommodityScope may review public market data, exchange-administered references, freight and logistics observations, market-participant indications and supplementary third-party benchmark references as part of its market-intelligence process, subject to applicable rights and permissions.

Such information may be used as independent market observations or supplementary reference points for:

  • market validation;
  • cross-market comparison;
  • model calibration;
  • analytical context;
  • quality control.

CommodityScope-created assessments, modelled indicators and indices remain separately defined CommodityScope outputs.

CommodityScope does not represent its products as the official assessment or methodology of another publisher, exchange, benchmark administrator or data provider.

26. Intellectual Property

CommodityScope-created:

  • assessments;
  • modelled indicators;
  • freight indices;
  • CS Identifiers;
  • calculation engines;
  • range methodology;
  • database organization;
  • charts;
  • analytical presentation;
  • original methodology text;
  • editorial content

are maintained as CommodityScope products and intellectual property.

Third-party trademarks, methodologies, proprietary identifiers, datasets and externally administered indices remain the property of their respective owners.

CommodityScope does not claim ownership of third-party intellectual property.

Use of standard commodity terminology, geographical market names, Incoterms, vessel classes or conventional market units does not imply affiliation with another market-data provider.

27. Editorial Separation

Structured market-data pages and editorial market analysis serve different purposes.

Market pages describe:

  • assessments;
  • modelled indicators;
  • indices;
  • reference series;
  • computed statistics.

Editorial articles may discuss:

  • market drivers;
  • physical trade;
  • logistics;
  • policy;
  • production;
  • supply and demand;
  • market structure.

Editorial interpretation is not automatically inserted into historical market statistics.

28. Commercial Independence

Commercial relationships, advertising and sponsored placements do not determine CommodityScope market calculations.

Commercial material is identified separately from market assessments, models and statistical outputs. Available formats are described on the Advertising page.

Crude Delivered Cost model

Crude Delivered Cost is described in the Crude Delivered Cost Methodology.

Methodology questions: [email protected]