Platts to launch West Texas Midland crude differential to ICE HOU contract

Platts, part of S&P Global Commodity Insights, will launch a daily assessment of West Texas Intermediate crude in Midland, Texas, as a differential to the ICE Midland WTI futures contract, known as HOU, effective Jan. 22, 2025.

The new assessment will be in addition to Platts' existing WTI Midland assessment prices published against cash WTI.

ICE HOU's pricing and physical delivery point is in Houston. Platts will publish one contract month of the WTI Midland differential against the corresponding ICE HOU contract. Platts currently publishes settlement prices for ICE HOU values for six months, including the settle, open, low, high, open interest and volume.

The assessment month for the new differential will roll over on the first business day after the expiration of the prompt contract.

Platts WTI Midland quality specifications are in line with quality specifications outlined in the ICE HOU contract.

The new assessment will be available on Platts Global Alert pages 210, 211, 214 and 215.

It will be published in Crude Oil Marketwire, North America Crude and Product Scan and Oilgram Price Report.

This was first proposed in a note published Nov. 26, and available here:

https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/112624-platts-proposes-to-launch-west-texas-midland-crude-differential-to-ice-hou-contract

Please send any comments or feedback to americas_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.