Platts proposes to amend CPC Blend assessment period, launch new forward Dated Strip

Platts, part of S&P Global Commodity Insights, proposes to amend the assessment period for its CPC Blend assessments to 20-40 days forward, from April 2.

The proposal would impact the following assessments:

Outrightvs BTC Dated Brent Strip

CPC Blend CIFAAGZU00AAHPL00

CPC Blend FOB SuezmaxAALVX00AALVZ00

CPC FOB AframaxAAOFV00AAOFW00

Market feedback suggests that since the loss of Russian Urals barrels from the European crude market, CPC Blend has been competing with grades that trade further out, leading to an evolved natural trading cycle for the grade.

NEW FORWARD DATED STRIP

Platts CPC Blend assessments currently reflect cargoes loading 10-30 days forward with differentials applied to the 13-33 days forward BTC Dated Brent strip [AAUFI00].

Platts also proposes to launch a new forward "CPC Dated Brent strip" of 23-43-days forward to reflect the proposed assessment period of 20-40 days forward.

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 to the public upon request.