HS Code for WTI Crude Oil (HS 2709.00)
WTI is ~40 API, 0.24% sulphur - a light sweet grade. NYMEX WTI futures settle physical at Cushing OK. WTI Midland (produced in the Permian) and Magellan East Houston (MEH) are the two export-grade specifications shipped from US Gulf Coast.
Sample 6-digit codes
| Code | Description |
|---|---|
| 2709.00 | Petroleum oils, crude |
Typical import duty by market
| Market | Duty |
|---|---|
| European Union | 0% |
| China | 0% |
| India (BCD) | 0% |
| South Korea | 0% FTA partner. |
Worked landed-cost example
2,000,000 bbl VLCC WTI Midland, FOB LOOP USD 78.30/bbl, CFR Ulsan Korea
- · NYMEX WTI futures - 1,000 bbl per contract, physical delivery Cushing OK.
- · Platts Dated WTI Midland assessment for FOB Corpus Christi/Houston.
- · US Bureau of Industry and Security - crude export licence not required post-2015 ban lift.
- · MARPOL Annex I / OPA 90.
- · United States (Corpus Christi, Houston, LOOP)
Frequently asked questions
Louisiana Offshore Oil Port is the only US terminal that can fully load a VLCC (2 million bbl). Corpus Christi handles Aframax and partial-lift Suezmax reverse-lightering to VLCC in the Gulf. LOOP direct loading saves USD 1-2/bbl in reverse lightering costs on Asia arb cargoes.
Destination market toolkits
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Jump straight to the energy import guide for any of the destination markets we cover.
Related commodity guides
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Sources & citations
- WCO Harmonized System NomenclatureWorld Customs Organization
- WTO Integrated Database (tariff data)World Trade Organization