SUBSCRIBER NOTE: S&P Global Platts clarifies USGC Basrah Light assessment

With effect from April 6, 2018, S&P Global Platts will look at additional factors in the assessment of the US Gulf Coast delivered market for Basrah Light crude.

Previously, absent clear indications of bids, offers or trades, Platts assessed USGC Basrah Light based on the relative value of similar sour crudes in the US Gulf Coast, including Vasconia and Mars.

Following the introduction by Platts of an assessment of Basrah Light on an FOB Iraq basis on November 1, 2017, Platts will now use the FOB assessment plus the Platts assessment of VLCC freight rates from the Persian Gulf to the USGC as one indication of the delivered price in the USGC.

In the event that Platts receives any reported bids, offers or trades for Basrah Light delivered in the US Gulf Coast, that data would take precedence in the data hierarchy for the assessment.

Please send all comments, feedback and questions to americas_crude@spglobal.com and pricegroup@spglobal.com.

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.