Platts to include Buckeye Texas Hub Terminal into Brent complex assessment process for June 2023

Platts, part of S&P Global Commodity Insights, will include Buckeye Texas Hub Terminal as a loading terminal for WTI Midland crude oil into its Dated Brent and Cash BFOE Market on Close assessment process for June 2023 deliveries.

Sellers would be able to nominate WTI Midland meeting Platts specification loaded from Buckeye Texas Hub Terminal for inclusion into the Dated Brent/Cash BFOE assessment process starting with the June 2023 delivery period.

The terminal, located in Corpus Christi, Texas, is wholly owned by Buckeye Texas Hub, LLC, a joint venture between Buckeye Partners L.P. and Trafigura Trading LLC. It handles crude oil and petroleum products. The terminal has five docks, including one that can load WTI Midland crude, and can fit up to a Suezmax size vessel and 2.35 million barrels of storage capacity, 1.6 million barrels of which is for WTI Midland crude oil storage.

Platts' 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.

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