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Stock impact report

Oil pricing agencies Platts, Argus launch new U.S. crude benchmarks [Reuters]

Enterprise Products Partners L.P. (EPD) 
Last enterprise products partners l.p. earnings: 4/29 06:00 am Check Earnings Report
US:NYSE Investor Relations: enterpriseproducts.com/investors
Company Research Source: Reuters
Oil pricing agencies Platts, Argus launch new U.S. crude benchmarks LONDON/NEW YORK (Reuters) - After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers, a break from the old landlocked system. The two agencies are battling for primacy to price more than 3 million barrels of crude shipped to global markets every day from the U.S. Gulf Coast. Currently, those barrels are underpinned by the U.S. benchmark West Texas Intermediate futures price (WTI), reflecting crude delivered at Cushing, Oklahoma, some 500 miles (800 km) away. Both S&P Global Platts and Argus Media will launch U.S. Gulf Coast assessments on June 26 to reflect light, sweet oil loaded for shipment from there. Currently, crude grades traded from the Gulf reflect prices for oil at storage terminals, and are quoted as a premium or discount to WTI, rather Show less Read more
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