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Platts launches assessments for US WTI, Eagle Ford crude oil for delivery to Europe

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Watch: Platts launches assessments for US WTI, Eagle Ford crude oil for delivery to Europe

  • Featuring
  • Paula VanLaningham    Maude Desmarescaux    John-Laurent Tronche
  • Length
  • 06:39

The growth in US crude oil exports has reshaped the global crude markets in the past 2.5 years. Nowhere has this shift been more evident than in Europe, where US crude flows have rapidly become one of the de facto swing barrels in the European market, impacting the differentials for grades across the Atlantic Basin, including Dated Brent.

Crude flows from the Gulf Coast -- primarily of distillate-rich rich WTI Midland, but also of Eagle Ford crudes and condensates, as well as the occasional cargo of heavier, more sour Mars -- now average nearly a cargo a day into Europe, exceeding the production of nearly all of the locally-produced shorter-haul crudes that traditionally make up the European, sweet crude refining diet.

On September 19, S&P Global Platts announced that it will now assess both WTI Midland and Eagle Ford 45 delivered at place -- or DAP -- in both Rotterdam and Augusta.

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