SUBSCRIBER NOTE: Platts to retain month-ahead Dated Brent system

S&P Global Platts has decided not to implement a move to 45-day ahead Dated Brent and Cash BFOE in 2020.

This follows extensive feedback to a subscriber note published on February 18, 2013 on the proposed changes.

Platts has received a variety of feedback since the original proposal, demonstrating support for the current, month-ahead structure, which have underpinned Dated Brent and cash BFOE since early 2015.

Sustained production of the North Sea crudes in the benchmark basket has supported continued trade on a relatively prompt basis, and deferred the possible evolution of North Sea supply trends towards the trading of cargoes with longer lead times ahead of loading.

Platts originally proposed in 2013 to move to a 45-day ahead Dated Brent structure from 2020 onwards, changing from the month-ahead Dated Brent structure, which has been assessed since 2015 and which had, in turn, superseded 25-day and 21-day Dated Brent.

The original proposal can be found at the following location: http://platts.com/subscribernotesdetails/6166368

Please send all comments 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 upon request.