Methodology & Data Policy
CommodityScope provides structured physical commodity market indicators, historical observations and computed market statistics across refined products, marine fuels, fertilizers, grains and freight.
CommodityScope is not a price reporting agency and does not conduct its own market-participant price assessment process. Published indicators are based on structured market observations derived from market reports, reference datasets and other market information available to CommodityScope.
The purpose of this page is to explain how market observations are represented, how calculated statistics are produced, what limitations apply, and how data corrections are handled.
1. Market coverage
CommodityScope currently maintains market series across four principal areas.
Refined products and marine fuels
Coverage includes selected physical and forward-market references for:
- diesel and gasoil;
- gasoline and naphtha;
- jet fuel;
- fuel oil and marine fuels;
- selected regional product spreads;
- selected inventories and related freight references.
The principal market basins include Northwest Europe, the Mediterranean, Singapore, the Arab Gulf, Fujairah, West Africa and selected Asian import markets.
Fertilizers
Coverage includes selected market observations for:
- granular and prilled urea;
- ammonium sulphate;
- ammonium nitrate;
- CAN;
- UAN;
- selected fertilizer derivatives;
- production-cost references;
- fertilizer freight routes.
Grains and agricultural feedstocks
Coverage includes selected export-market observations for:
- wheat;
- barley;
- corn;
- soybeans;
- soybean meal;
- selected grain export duties;
- dry-bulk freight routes.
Freight and related market references
CommodityScope also tracks selected tanker, dry-bulk and container freight indicators where they are relevant to physical commodity trade.
Not every market, origin, grade, delivery basis or historical period is covered.
2. How market series are represented
Each CommodityScope series is maintained as a separate market reference with its own:
- product or commodity;
- geographic market;
- delivery basis;
- currency;
- unit of measurement;
- assessment frequency;
- observation date;
- available price fields.
Where source material provides bid and offer values, CommodityScope may display a midpoint calculated from those values.
Where a midpoint or another reference value is already explicitly provided in the underlying market data, that value may be retained as the observation for the relevant series.
Different delivery bases, origins, grades, product forms, contract periods or reporting frequencies are treated as separate series where those differences are material.
CommodityScope does not automatically convert values between currencies, units or delivery terms in the underlying series.
A USD/mt CIF assessment, for example, remains distinct from a USD/mt FOB assessment even where both refer to a similar product.
3. Assessment dates and data freshness
Every price series displays the date of its latest available market observation.
The displayed date is the assessment date, not necessarily the date on which a visitor views the page.
Daily, weekly and other periodic series are treated according to their actual reporting frequency.
CommodityScope does not interpolate missing market observations merely to create a continuous daily history.
If a new observation is unavailable, the previous observation is not presented as a new assessment.
Where appropriate, a series may be identified as stale when its latest available observation is materially older than the expected update cycle for that market.
4. Product specifications and delivery basis
Commodity markets frequently contain similarly named products with materially different specifications, origins, delivery terms or commercial conditions.
CommodityScope therefore distinguishes between:
- attributes explicitly associated with the individual market series; and
- general product or market context.
A general industry standard referenced on a product page should not be interpreted as confirmation that every market observation on that page conforms to every parameter of that standard.
Where a specific property is not established for an individual series, CommodityScope does not infer it solely from the product name.
Delivery bases such as FOB, CIF, CFR or other commercial terms are shown where they form part of the market reference.
Prices quoted on different delivery bases should not be treated as directly interchangeable because freight, insurance, location and other commercial components may differ.
5. How CommodityScope calculates statistics
CommodityScope generates statistical summaries directly from the observations stored for each individual market series.
These calculations describe what the available data shows. They do not attempt to explain why a market moved.
Latest change
The latest calculated change is:
latest observation − previous available observation of the same series
The comparison uses the actual cadence of the series.
For example, a change between two weekly assessments is identified as a weekly-assessment comparison rather than a daily change.
Published and calculated changes
Where an underlying market observation includes a reported change, CommodityScope may display it separately from the change calculated from the observations available in the CommodityScope history.
The two figures can differ if the available observation sequence is not identical to the comparison sequence used by the original market reference. They should therefore not be assumed to represent the same calculation.
Monthly averages
Monthly statistics are calculated from the available midpoint observations within each calendar month.
CommodityScope may display:
- arithmetic mean;
- minimum;
- maximum;
- number of observations.
For an incomplete current month, the calculation is identified as month to date.
For weekly markets, monthly averages represent the average of the weekly observations available during that month rather than a synthetic daily average.
Comparison with the previous completed month
A comparison with the most recent completed month is calculated only where sufficient observations are available.
The current methodology requires at least:
- 8 observations for a daily series, or
- 3 observations for a weekly series
in the comparison month. If the threshold is not met, the comparison is not calculated.
Minimum and maximum
Period minimum and maximum statistics are shown only where at least 5 observations are available.
The relevant observation period should always be considered when interpreting these figures.
CommodityScope does not describe a value as an all-time record unless the available dataset genuinely supports such a statement.
Comparing two market series
A numerical difference between two series is calculated only when the observations are sufficiently comparable.
CommodityScope checks factors including:
- currency;
- unit;
- assessment date.
Where these do not match, the values may still be displayed for reference, but no direct price difference should be inferred.
Differences in delivery basis are also material. An FOB and CIF price, for example, may reflect different freight, insurance and geographic components.
6. Data limitations
CommodityScope should be used as a market-intelligence and reference tool rather than as a substitute for a firm physical commodity quotation.
Users should consider several limitations.
Market observations are not executable offers
A displayed market indicator does not constitute an offer to buy or sell a commodity and does not guarantee that physical cargo is available at the displayed level.
Actual transaction prices may differ because of:
- specification;
- origin;
- parcel size;
- loading window;
- destination;
- freight;
- financing;
- inspection requirements;
- sanctions and compliance requirements;
- counterparty credit;
- other contractual conditions.
Historical coverage varies
The length and density of available history differ between individual market series. Statistics are calculated only from observations actually available for that series.
Markets may not be directly comparable
Similar product names do not necessarily represent identical physical commodities. Users should review the specification, basis, unit, geography and assessment date before comparing two values.
CommodityScope does not attribute market causation automatically
Price movements shown in statistical summaries are descriptive. CommodityScope does not automatically state that a price moved because of a geopolitical event, refinery outage, freight disruption, inventory report or other market development.
Such conclusions require separate dated market analysis and supporting evidence.
7. Quality controls and corrections
CommodityScope applies validation controls to market observations and calculated statistics before publication.
These controls are designed to identify issues such as:
- missing observations;
- invalid numerical values;
- inconsistent bid/offer relationships;
- duplicate observations;
- inconsistent units or currencies;
- unexpected gaps in a series;
- calculation errors.
Calculated summaries are regenerated from the stored market observations rather than manually edited.
Where a historical data issue is identified, CommodityScope reviews the affected observation or series before making a correction.
If a calculation methodology changes materially, affected statistics may be recalculated using the revised methodology.
CommodityScope does not alter an unusual market observation merely because it appears inconsistent with surrounding prices. A correction is made only where there is sufficient basis to determine that the published CommodityScope value is incorrect.
8. Source and attribution policy
CommodityScope uses market information from multiple categories of external reference material and datasets.
The availability and level of attribution may differ depending on the market series and the nature of the underlying information.
CommodityScope does not republish third-party source tables as its own content.
Market values are presented as structured CommodityScope series together with relevant metadata, calculations and contextual information.
Where external standards, regulations, index methodologies or other public reference materials are used to explain a market or product, they may be identified separately on the relevant page.
CommodityScope-computed statistics are clearly distinguishable from externally reported market observations.
9. Editorial separation
Data-driven market pages and editorial market analysis serve different purposes.
Automated or structured market pages describe available observations and calculated statistics.
News and analysis may discuss market drivers, physical trade flows, logistics, policy changes or other developments, but such conclusions require separate editorial assessment and supporting sources.
Editorial interpretation is not automatically inserted into historical price statistics.
10. Commercial placements
Commercial relationships do not determine CommodityScope market calculations.
Sponsored or commercial placements are identified separately and are not inserted into market data tables or computed statistical summaries.
Information about available commercial formats and audience coverage is provided on the Advertising page.