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Domestic crude is priced on a formula $ = CMA + Argus Roll + Argus Grade & Location + Basis There are two different methodologies

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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