Platts to launch Johan Castberg crude eWindow instruments July 15, 2025

Platts, part of S&P Global Commodity Insights, will launch eWindow instruments for its Johan Castberg crude assessment in the Platts Market on Close assessment process from July 15, 2025.

Participants in the MOC process will be able to submit bids or offers for publication directly through the eWindow communication tool or do so through an editor who would then publish the bids and offers using the software.

Participants will be able to submit bids or offers for publication as a differential to Platts Dated Brent, Cash BFOE, or as a flat price.

eWindow instruments will be on a Cost-Insurance-Freight (CIF) basis with a volume of 700,000 barrels in line with the grade's assessment.

Commodity Insights has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC in order to ensure an orderly and transparent price assessment process.

TIMING: All bids and offers for eWindow must be submitted by 3:45:00 pm local time in London. Following any trade, market participants have one minute to rebid or reoffer. No price changes are allowed in the final five minutes of the MOC, which closes at 4:30:00 pm local time in London.

INCREMENTABILITY: Bids and offers may be improved by a minimum of $0.01/b every 60 seconds, or a maximum of $0.05/b every 60 seconds.

As per Commodity Insights editorial guidelines, market participants can withdraw a bid or offer from the MOC at any time, so long as no other potential trading counterparty has indicated interest to buy or sell into the bid/offer.

Platts eWindow provides direct entry and management of credit filters which should mirror those normally applied outside of the Market On Close assessment process.

Guidelines for the publication of bids and offers in the MOC are published in the Oil Timing and Increment Guide available here: www.spglobal.com/platts/en/our-methodology/methodology-specifications/oil/oil-timing-and-increment-guidelines.

Any entities interested in participating in the MOC process for North Sea crude should refer to: MOC Participation Review Request | S&P Global (opens in a new tab).

Platts provides training to participants interested in learning more about the use of the eWindow software. Participants can contact ewindow@spglobal.com directly for training requests.

Platts launched its Johan Castberg crude assessment on a CIF Rotterdam basis June 23, more details can be found here: Platts launches Johan Castberg CIF Rotterdam assessment June 23 | S&P Global (opens in a new tab).

Please send all feedback, comments or questions to europe_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 to the public upon request.