Introducing the Pyth 24/7 Oil Index: Continuous Oil Pricing for Global Markets

Oil Still Trades on a Schedule. Markets Don’t.

Crude oil is one of the most actively traded commodities in the world. Its pricing, however, is still tethered to fixed trading windows set decades ago. NYMEX WTI futures trade during regular U.S. business hours. When those sessions close, reference prices stop updating, even as risk exposure, macroeconomic developments, and trading activity continue around the clock.

The disconnect has become harder to ignore. In recent weeks, onchain commodity derivatives venues have processed billions of dollars in oil-related trading activity outside of traditional market hours. Hyperliquid alone saw well over $1 billion in daily WTI oil perpetual volume during recent volatility spikes. OPEC decisions land on weekends. Inventory data moves markets overnight. Geopolitical events do not wait for the opening bell.

During many of these periods, the primary reference markets remain closed. Prices do not update. Traders, exchanges, and risk systems operate with stale data or no data at all.

A New Index for Always-On Markets

Today, Pyth is launching the Pyth 24/7 Oil Index, the world’s first continuously updating crude oil composite index.

Unlike traditional oil price feeds that depend on a single exchange or market window, the Pyth 24/7 Oil Index aggregates both onchain and offchain data from exchanges, institutions, and professional trading firms to produce a real-time price that never stops updating. The result is a proprietary index designed to reflect where crude oil is trading across global venues, markets, and time zones, without gaps, closures, or stale prints.

This is only possible because of Pyth’s upstream data sourcing model.

Pyth is a real-time, institutional-grade market data platform operating on blockchain infrastructure. Through the Pyth Network, leading trading firms and market makers publish first-party market data directly to the network in real time. This model creates a decentralized market data system that reflects actual trading activity as it occurs.

This upstream data flow gives the network a combined view of global liquidity across both traditional commodity venues and onchain derivatives markets. For the 24/7 Oil Index, that means the network can source pricing from institutional desks and exchanges during regular hours, and from continuously trading onchain venues during nights, weekends, and holidays. No single exchange or legacy data vendor has this combined view.

The First of a New Category

The Pyth 24/7 Oil Index is the first proprietary index in what will become a broader and specialized suite of always-on price feeds built from Pyth’s combined view of institutional and onchain markets. Additional proprietary indices across commodity, macro, and cross-asset categories are on the roadmap.

As macro assets increasingly trade across both traditional and decentralized venues, continuous pricing will shift from a differentiator to a requirement.

The infrastructure to support that shift is live today.

Request early access to the Pyth 24/7 Oil Index here.