Platts seeks feedback on inclusion of Seabrook Logistics Terminal into Dated Brent Assessment Process

Platts, part of S&P Global Commodity Insights, proposes including Seabrook Logistics Terminal as a loading terminal for WTI Midland crude oil into its Dated Brent and Cash BFOE Market on Close assessment process from June 2023.

Platts recent decision to include WTI Midland into the Brent complex, and clarification of the review process by which loading terminals are included in the assessment process, can be found here https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060822-platts-clarifies-usgc-terminal-review-process-for-wti-midland-in-brent-complex.

Upon successful review and meeting Platts criteria, sellers would be able to nominate WTI Midland meeting Platts specification loaded from Seabrook Logistics Terminal for inclusion into the Dated Brent/Cash BFOE assessment process.

The terminal, located in Seabrook, Texas, is partially owned by Magellan OLP, L.P. and LBC Bayport Terminal, LLC. It handles only crude oil. The terminal has 2 docks that can fit up to a Aframax size vessel and 3.996 million barrels of storage capacity, about 3 million barrels of which is for WTI Midland storage.

Please send all feedback to PriceGroup@spglobal.com and Europe_Crude@spglobal.com by Oct. 15, 2022. For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.