The data displays the annual average spot price of Dubai Fateh crude oil from 1973 to 2017 (in USD per barrel). In 2017, Dubai Fateh had an average price of 53.13 USD per barrel.
Dubai Crude (Fateh) oil price
Dubai Crude (Fateh) is the most important crude oil benchmark for Asia. Dubai Crude originated in Dubai in the Persian Gulf. Another name for this crude oil is Fateh. The name Fateh comes from an offshore oil field, located some 60 miles from Dubai, and is, therefore, part of the United Arab Emirates. One of the advantages of Dubai Crude compared to other Persian Gulf crude oils, and a main reason why it is used as an oil marker, is its instant availability.
