With Pyth 24/7 Oil Index, Proprietary Price Data for a Global Commodity Will Empower Traders and Developers Around the Clock

Pyth Network, a leading provider of institutional market data, announced the launch of the Pyth 24/7 Oil Index, the world’s first continuously updating oil price index. By aggregating data from leading exchanges, institutions, and trading firms, the index closes a critical gap in global commodity markets where price discovery has historically halted overnight, through weekends, and on market holidays.

The need for reliable, 24/7 pricing data has never been more apparent than with the billions of dollars in oil-related trading activity happening in onchain derivatives venues in recent weeks. In fact, Hyperliquid saw well over $1 billion in daily trading volume in WTI oil perpetuals during recent volatility spikes. While crude oil remains one of the most actively traded assets in the world, its benchmark pricing is still tethered to fixed trading windows, even as risk exposure, macroeconomic developments, and trading activity increasingly operate around the clock.

“Until now, the world’s most important commodity has been priced on a schedule designed decades ago,” said Mike Cahill, CEO of Douro Labs and contributor to Pyth. “The Pyth 24/7 Oil Index changes that. For the first time, developers and institutions have access to a continuous, independently sourced oil index they can rely on without market closures, gaps, or guesswork. We are proud to contribute this meaningful innovation to advance the resilience of global markets.”

The Pyth 24/7 Oil Index is a proprietary price feed designed to reflect the real price of oil globally across markets, venues, and time zones. Through Pyth Network, hundreds of leading trading firms and market makers publish first-party price data directly to the network, creating a price discovery system rooted in real trading activity rather than delayed or intermediated feeds. Unlike traditional price feeds that depend on a single exchange or market window, Pyth offers a holistic view of global liquidity.

Source: Pyth Network