09 Jul 2024 | 11:40 UTC

Platts to amend Mediterranean crude netback, net forward rates to reflect revised Turkish Straits transit fee

Platts, part of S&P Global Commodity Insights, will update the formulae used to derive its netback and net forward assessments for some Mediterranean crude assessments from Aug. 1 to reflect an increase in flat rates for voyages transiting the Turkish Straits, as detailed in Worldscale Circular No. 39 (2024).

The changes to the formulas will be effective for the following assessments:

Assessment Code Mavg
Urals Augusta vs Med Dated Brent Strip (CIF) AAGXX00
KEBCO (FOB Novorossiisk) vs Med Dated Brent Strip KBCOF00 KBCOF03
CPC Blend FOB Suezmax vs CPC Dated Brent Strip AALVZ00 AALWC00
CPC FOB Aframax vs CPC Dated Brent Strip AAOFW00 AAOFV03
Siberian Light CIF vs Med Dated Brent Strip AAHPK00 AAJIE00
Azeri Light FOB Supsa vs BTC Dated Brent Strip AATHN00 AATHN03

These assessments appear in Crude Oil Marketwire and on Platts Global Alert pages 1210, 1220 and 1222.

Please send any comments and feedback to europe_products@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.