SUBSCRIBER NOTE: Platts to launch CFR North Asia assessments for 11 crudes

Reflecting growing market interest in the value of crude oils from around the world delivered to buyers in Asia, S&P Global Platts will publish daily assessments on a CFR North Asia basis for 11 crude oils with effect from March 26, 2018.

Platts will publish assessments for six Middle Eastern crudes, two US grades, one Russian grade, one North Sea grade, and one West African grade.

Feedback from market participants demonstrates demand for more insight into how the fundamentals for these crudes are shaped in part by their desirability among Asia buyers.

Continued strong growth in demand for crude in Asia, increasing purchases of European and West African crude, and new US flows have taken the region past the tipping point in shaping the value of crude oil in markets around the world.

These new CFR North Asia assessments will help market participants better analyze the competitiveness of crudes flows that increasingly feed the demand of buyers across the region, particularly in high growth demand centers like China, and core refining and consumption countries like Japan and South Korea.

Specifically, Platts will publish CFR North Asia assessments for Oman, Dubai, Murban, Upper Zakum, Qatar Marine, Basrah Light, ESPO, LOOP Sour, WTI MEH, Forties and Dalia on a CFR North Asia basis.

Five of these crudes -- Basrah Light, Dubai, Oman, Qatar Marine, and Upper Zakum -- will be among seven grades of crude oil that will be deliverable into a new crude futures contract being launched by the Shanghai International Energy Exchange. That contract is also expected to launch on March 26.

The new assessments will reflect the value of these crudes delivered into North Asia at 16:30 hours Singapore time, including freight and any other relevant costs into North Asia. These assessments would be published in addition to Platts existing assessments for all these grades.

Platts invites comments and questions on these planned new assessments. Please send all feedback to americas_crude@spglobal.com, europe_crude@spglobal.com, asia_crude@spglobal.com and pricegroup@spglobal.com by February 28, 2018.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.