Platts to include Texas International Terminal in Brent complex assessment process for August 2025 deliveries onward

Platts, part of S&P Global Commodity Insights, will include Texas International Terminal in Galveston, Texas, as a loading terminal for WTI Midland crude oil in its Dated Brent and Cash BFOE Market on Close assessment process with effect from August 2025 deliveries.

The terminal is wholly owned by Texas International Terminal and handles crude oil and refined products. It has three docks that can fit up to a Suezmax-sized vessel and one million barrels of storage capacity for crude oil. Following the inclusion of this terminal, sellers would be able to nominate WTI Midland meeting Platts specification loaded from Texas International Terminal for inclusion in the Dated Brent/Cash BFOE assessment process starting with the August 2025 delivery period.

Following the proposal published Dec. 10, 2024, Platts received feedback from many stakeholders, some of whom questioned the draft capability and crude quality at the terminal. Following extensive review, Platts has verified the channel leading to the terminal can now accommodate a draft of 44 feet and is satisfied that the terminal can consistently provide quality meeting the Platts WTI Midland specification and meets Platts pipeline provenance definitions.

Platts decision to include WTI Midland in the Brent complex, and clarification of the review process by which loading terminals are included in the assessment process, can be found here(opens in a new tab).

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