Platts launches consultation on further evolution of Dated Brent and wider Brent complex

S&P Global Platts has launched a consultation on the further evolution of the Dated Brent benchmark and wider Brent complex.

This consultation comes alongside the paper Brent Benchmark Complex: Evolving necessity, co-authored by Platts and ICE, and released on July 21, which can be found here.

The joint white paper describes the main development concepts for the Brent complex as a whole, laying out the main discussion points and asking detailed questions on some of the most talked-about routes for Brent’s development.

Market discussions show that industry opinion has coalesced around two possible streams of crude to come into Dated Brent: Johan Sverdrup as a deliverable option under the Forward Brent contract, which would remain on an FOB basis, and WTI Midland as a deliverable grade on an FOB USGC basis.

The paper discusses a set of identified issues and questions around the possible inclusion of the Johan Sverdrup and WTI Midland streams, and raises several discussion points for industry feedback.

Platts welcomes feedback and questions to this consultation, which closes on Sept. 30, 2021. Written comments received by either Platts or ICE in response to their simultaneous consultations will be shared between both parties, unless marked clearly as solely for the view of one of them.

Comments received by Platts not marked as confidential will be made available upon request. Please send all further comments, feedback, and questions to Platts_Oil_Feedback@spglobal.com.