Prices offered to buy and sell, respectively, on spot market deals. An interested party can sell at the bid and buy at the asked price. Spot prices are not reported as a straight number, but rather, in terms of bid and ask. OPIS editors derive an appropriate price from those to report a value that’s representative of that market. Bid is what the buyer is willing to pay and ask is what the seller wants for the product.
FREE WEEKLY NEWSLETTER
Learn more practical information like this in the OPIS Weekly Energy Update. It’s a FREE newsletter full of exclusive content, insight and education on the global energy market.