Platts American GulfCoast Select (Platts AGS)

Platts AGS is assessed by S&P Global Commodity Insights based on market information gathered during the day by market reporting staff and bids, offers, and trades published on the Platts eWindow communication tool. The assessment follows Platts Market on Close principles with bids, offers, and trades – converted to outright values for comparison – determining value at the 1:30 Central Time close.

Platts AGS by S&P Global Commodity Insights brings the US oil market a new benchmark assessment that reflects the value of high-quality, export-ready crude at the intersection of domestic and global demand, free of any distortion from logistics.

• Platts AGS rises as futures weaken
• US crude exports expected to rise

Platts American GulfCoast Select (AGS) closed weaker along with crude futures Sept. 29.

Platts assessed AGS at $92.78/b, 67 cents/b lower day on day.

However, the Platts AGS premium over the NYMEX WTI strip rose by 24 cents to $3.45/b.

The AGS discount to the forward Dated Brent strip narrowed by 27 cents, from $1.47/b to $1.20/b.

Crude futures sagged to end the week. NYMEX WTI settled down 92 cents to $90.79/b, while Brent futures settled at $95.34/b, down 4 cents day on day.

Though US crude exports were down last week, data from Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights forecast a rise in export totals through the week ended Sept. 29. The data showed US crude exports at 4.73 million b/d, more than 700,000 higher than the US Energy Information Administration’s reported total of 4 million b/d for the week ended Sept. 22.

The latest S&P Global data showed the WTI Magellan East Houston crude arbitrage versus Forties open into Northwest Europe by $2.06/b, the highest since April.

Platts is part of S&P Global Commodity Insights.