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1 What is TAS & how it used to manage risk and what risk? 2 Compare and contrast EFP & TAS. 3 Domestic crude is

1 What is TAS & how it used to manage risk and what risk?

2 Compare and contrast EFP & TAS.

3 Domestic crude is priced on a formula $ = CMA + Argus Roll + Argus Grade & Location + Basis

There are two different methodologies of averaging prices in this formula; Calendar Spread & Trade Month.Basis is a negotiated bullet value.

What is the methodology used for the other 3 components of price, by component?

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