Before using a benchmark, inspect its definition: commodity and grade, geography, delivery basis, observation period, source policy, calculation method and publication schedule. Also ask how sparse observations, revisions and unavailable data are handled. These details determine what question the reference can answer and where its limits begin.
SPIKE publishes Ukrainian spot-market positions, while UGA Index offers a public view of selected SPIKE data. Reviewing the methodology alongside dated values lets an analyst assess whether the series is appropriate for comparison or discussion. A transparent reference supports scrutiny; it does not remove the need to validate a specific quote or contract.