Platts proposes to discontinue Eagle Ford 45 DAP Rotterdam, Augusta assessments

In response to evolving trade flows and recent feedback from market participants, Platts, part of S&P Global Commodity Insights proposes to discontinue its Eagle Ford 45 assessments on a DAP Rotterdam and Augusta basis from May 1.

Platts currently publishes assessments for Eagle Ford 45 on a DAP Rotterdam and DAP Augusta basis as both an outright price and differential to Dated Brent.

The move follows a consultation on the spot market volumes for Eagle Ford 45 delivered to Europe published Oct. 16, which can be found at: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/101623-platts-opens-consultation-on-dap-rotterdam-dap-augusta-wti-midland-and-eagle-ford-45-crude-assessments

Spot market liquidity of Eagle Ford 45 delivered into the Northwest European and the Mediterranean crude markets has declined in recent years as trading activity has thinned and exported volumes of WTI Midland into the region have increased.

Volumes of Eagle Ford 45 delivered to both Northwest Europe and the Mediterranean have shrunk significantly since 2019, falling to 13,328 b/d so far in 2023, according to vessel-tracking data monitored by Platts.

The discontinuation relates to the following Platts assessments:

The assessments appear on Platts Global Alert and Platts Crude Alert pages 1210, 1212, 1238, and in Crude Oil Marketwire.

Please send all feedback, comments or questions to europe_crude@spglobal.com and pricegroup@spglobal.com by Jan. 31.

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.