Oil Prices Asia: Live Benchmarks & Regional Analysis
Timestamped Asian crude benchmarks with analysis of Dubai, Tapis, JKM LNG, and the demand drivers that set prices across the region.
Asian Crude Benchmarks
Last updated: Jul 7, 2026, 8:31 PM GMT
Brent Crude
Dubai Crude
WTI Crude
Each timestamp above is the latest source record for that benchmark, not a page-render time. Crude benchmarks settle on business days, so a weekend or holiday value reflects the most recent trading session. A value that looks unchanged usually means the market held steady; the timestamp confirms it is current. We do not display synthetic or estimated prices — if a feed is down, the card reads “Unavailable.”
How Asian Crude Prices Are Set
Dubai, not Brent, anchors the region
Asia imports the majority of its crude from Middle East Gulf producers, and those barrels are overwhelmingly priced off the Dubai benchmark and the closely related Oman and DME Oman contracts. Dubai represents the medium, sour crude that Asian refiners are configured to process, which is why it — not the lighter, sweeter Brent — is the regional reference.
Traders track the Brent-Dubai exchange for swaps (EFS) to gauge arbitrage. A narrow spread pulls in Atlantic Basin and US grades; a wide spread keeps Asian refiners anchored to Dubai-priced Gulf cargoes.
Regional grades and gas linkage
Tapis, a light sweet Malaysian crude, has long acted as a marker for light grades within Asia-Pacific. JKM, the Japan-Korea Marker, sets spot LNG delivered into Northeast Asia and links back to oil through gas-to-oil switching and oil-indexed LNG contracts.
Demand is concentrated in a handful of giant importers, so Chinese refinery runs and crude stockpiling, Indian import appetite, and Japanese and Korean seasonal power demand can move regional differentials independently of headline Brent.
Gulf supply
Saudi, UAE, Iraqi and Kuwaiti barrels priced off Dubai dominate Asian imports, so OPEC+ policy feeds straight into the region.
Refinery margins
Singapore complex refining margins and product cracks drive how much crude Asian refiners want to run.
Freight
VLCC tanker rates from the Gulf and around the Cape change the delivered cost of every Asian cargo.
USD strength
Crude is dollar-denominated, so a stronger USD raises the local cost of imports for Asian buyers.
Asian Oil Markets by Country
China
World's largest crude importer. Pricing reference: Dubai /Oman for Gulf barrels; Shanghai INE crude futures provide a domestic yuan-denominated benchmark.
Refinery run rates and strategic stockpiling swing global balances more than any other single buyer.
India
Among the largest consumers globally. Imports priced off a Dubai/Brent basket; sourcing is highly price-sensitive and shifts with discounts on offer.
Japan
Major refining and petrochemical hub. Crude purchases are predominantly Gulf barrels priced off Dubai; seasonal power demand links into the JKM LNG marker.
South Korea
Large refiner and significant product exporter. Crude priced off Dubai; a key JKM LNG buyer, tightening the oil-gas link.
Singapore
The region's price-discovery and trading hub. Singapore product assessments and refining margins set the tone for Asian crude demand.
Malaysia
Producer of Tapis, a light sweet regional marker. Its premium or discount versus Brent and Dubai signals how light, sweet barrels are valued within Asia.
Related benchmark pages
Asian Oil Prices FAQ
Why is Dubai crude the key benchmark for Asia?
Most crude sold from the Middle East Gulf into Asia is priced off Dubai (and the related Oman and DME Oman contracts) rather than Brent. Because the bulk of Asia's imports come from Gulf producers, the Dubai benchmark reflects the medium, sour barrels that Asian refiners actually run.
What is the Brent-Dubai spread (EFS) and why does it matter?
The Brent-Dubai exchange for swaps (EFS) is the price difference between light, sweet Brent and medium, sour Dubai. When the spread is narrow, Atlantic Basin and US crude becomes more competitive for Asian buyers; when it is wide, Gulf barrels priced off Dubai are relatively cheaper. Refiners and traders watch the EFS to decide where to source cargoes.
What is Tapis crude?
Tapis is a light, sweet Malaysian crude that has historically served as a regional Asia-Pacific benchmark, particularly for light grades. Its premium or discount versus Brent and Dubai signals how tightly light, sweet barrels are valued within Asia.
How does JKM LNG relate to Asian oil prices?
JKM (Japan-Korea Marker) is the spot price benchmark for LNG delivered into Northeast Asia. It is a gas, not oil, marker, but it matters for oil because gas-to-oil switching in power and industry, plus oil-indexed legacy LNG contracts, link the two. When JKM spikes, oil products can pick up incremental demand.
Are the prices on this page real-time?
Each benchmark card shows the latest record from the OilPriceAPI feed along with its source timestamp. The timestamp is the source assessment time, not the page-render time, so you can confirm freshness before using a value. When a benchmark is temporarily unavailable, the page says so rather than showing a placeholder number.
Get Asian Oil Price Data via API
Timestamped Brent, Dubai and WTI data with historical access for dashboards, spreadsheets and reporting.