Platts to publish new Brent differential assessments for US feedstocks

S&P Global Platts will publish differentials for its existing US Gulf Coast and US Atlantic Coast high- and low-sulfur vacuum gasoil and low-sulfur straight run fuel oil assessments versus the prevailing front-month ICE Brent futures contract, effective Feb. 1, 2021, in order to bring greater transparency to the assessed markets.

These assessments were first proposed in a subscriber note published Nov. 4: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/110420-platts-proposes-new-brent-differential-assessments-for-us-feedstocks.

Platts understands that Brent-related pricing has become increasingly prevalent in physical feedstock markets in the US in recent years. Platts will start publishing these differentials, alongside the outright price assessments Platts already publishes for these markets as well as existing differentials to NYMEX WTI crude futures.

The differentials will be assessed versus the prevailing front month ICE Brent crude futures. Platts will roll to the next month ICE Brent on the day the front month contract expires.

Bids, offers and trades on a Brent-related basis across the 5-15 day laycan will be evaluated as part of the assessment process for the differentials. Platts may publish bids, offers and trades priced off forward months, but these will be normalized for assessment purposes.

Separately, Platts will discontinue other feedstock assessments in the US from Feb. 1, 2021: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/102120-platts-proposes-discontinuation-of-some-us-feedstock-assessments.

Please send any questions, comments or feedback to americas_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.

To see this note and others, please visit https://www.spglobal.com/platts/en/our-methodology/subscriber-notes.