Platts reflects change of price reference in its publication of Iranian OSPs to Europe

S&P Global Platts now reflects the change in price reference from ICE BWAVE to ICE Brent futures for Iran's crude cargoes destined for Northwest Europe and the Mediterranean.

From January cargoes, the National Iranian Oil Company published its Official Selling Prices (OSPs) for crude being sold into Europe versus ICE Brent futures. NIOC continues to publish its OSPs for crude to Asia versus Oman/Dubai.

As a result of the change in publication of the differentials from ICE BWAVE to ICE Brent Futures, Platts will publish new symbols for Iranian OSPs into Europe versus ICE Brent Futures. Platts has also discontinued the following symbols for Iranian OSPs versus ICE BWAVE, which were published for the last time in December 2021:

Iran Light OSP (to NWE) vs BWAVE: AAIPA00

Iran Heavy OSP (to NWE) vs BWAVE: AAIPB00

Forozan OSP (to NWE) vs BWAVE: AAIPC00

Iran Light OSP (to Med) vs BWAVE: AAUCJ00

Iran Heavy OSP (to Med) vs BWAVE: AAUCH00

Forozan OSP (to Med) vs BWAVE: AAUCF00

Soroosh OSP (to Med) vs BWAVE: AAWCB00

Please send all feedback or questions to Europe_Crude@spglobal.com and PriceGroup@spglobal.com.

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