Platts closes consultation on operational standards in US crude export market

S&P Global Platts has closed the consultation on the operational standards in the US crude export market and is not proposing any change to the current specifications. Based on the feedback received, Platts will continue its free-on-board (FOB) crude assessments on the Gulf Coast including Platts AGS (Platts code: AGSAA00).

Platts opened a consultation April 19 seeking general feedback on transactional and physical processes in FOB cargo trades for US crude.

Platts sought to gather specific information on the following: terminal and vessel nominations lead times, obligations; loading windows and laycans, length of laycans, narrowing; pricing and payment terms pricing practices and options; and operational tolerance.

That subscriber note is available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/041921-platts-opens-consultation-on-operational-standards-in-us-crude-export-market

Platts has reviewed feedback received during the consultation and will continue to monitor developments in the USGC FOB market.

Please send any further feedback, comments or queries to americas_crude@spglobal.com and pricegroup@spglobal.com.