Platts edges closer to dated Brent revamp with European pricing for U.S. oil [Reuters]
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Source: Reuters
Platts edges closer to dated Brent revamp with European pricing for U.S. oil | Reuters 2 Min Read LONDON (Reuters) - Oil pricing agency S&P; Global Platts has moved closer to revamping its dated Brent benchmark, launching new price assessments for two grades of U.S. crude in Europe in response to the swell of imports into the region. S&P; Global Platts, which publishes the daily Brent benchmark price that underpins two-thirds of the world’s oil trades, said it would provide daily price assessments for West Texas Intermediate Midland and Eagle Ford 45, both light, sweet crudes for delivery to Rotterdam in northwest Europe and Augusta in the Mediterranean. “We have long said that one of the possible futures for the North Sea is to incorporate delivered values and we have said there are a range of possible grades from outside the region that could play that part,” S&P; Global Platts senior director Jonty Rushforth said. U.S. crude oil exports are now above 2 million barrels per day, havi
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