Price Assessment

Platts American GulfCoast Select (Platts AGS)

  • What is Platts American GulfCoast Select?
  • How do we assess Platts American GulfCoast Select?
  • Evolution of Platts American GulfCoast Select
  • Platts American GulfCoast Select – Export Crude Commentary

What is Platts American GulfCoast Select?


Platts AGS by S&P Global Commodity Insights reflects the value of light sweet crude oil loading 15-45 days forward on an FOB basis from locations along the US Gulf Coast including Houston, Corpus Christi, Beaumont, Nederland, Texas City, and Port Arthur, with the most competitive location on a cargo-size normalized basis setting the price assessment.

This crude oil assessment reflects a typical cargo size of 700,000 barrels, with bids, offers and trades between 550,000 and 800,000 barrels eligible for use in the assessment but normalized to reflect the freight economics of the typical cargo size. The assessment reflects the Platts WTI Midland grade supplied directly from the Permian Basin on the BridgeTex, Longhorn, Midland-to-Echo I/II, Cactus I/II, EPIC, Gray Oak, and Permian Express pipelines with API between 40 and 44 and .2% sulfur limit, among other specifications.

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How do we assess Platts American GulfCoast Select?

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.

Evolution of Platts American GulfCoast Select

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 American GulfCoast Select – Export Crude Commentary

  • Platts AGS assessed weaker against forward Dated Brent, up versus MEH
  • US crude exports over week estimated at 2.706 million b/d: cFlow

Platts American GulfCoast Select was assessed broadly weaker Feb. 3 against both the 15- to 45-days forward NYMEX WTI and Dated Brent strips, while against West Texas intermediate crude on the US Gulf Coast, Platts AGS strengthened.

Platts AGS, which represents Midland-spec WTI crude for export out of the US Gulf Coast on an FOB basis, was assessed 2 cents/b weaker against the forward NYMEX WTI strip at a $2.20/b premium. Against the forward Dated Brent strip, Platts AGS was assessed 42 cents/b weaker at a $3.27/b discount. While weaker against both forward strips, against WTI crude at the Magellan East Houston terminal, against which WTI FOB cargo values are often calculated, Platts AGS was assessed 2 cents/b stronger to a 27 cents/b premium.

Meanwhile, US crude exports were expected to have slowed over the week ended Feb. 3, according to Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights. US crude exports over the week were estimated at 2.706 million b/d, down 1.227 million b/d from the cFlow estimate for the week prior, while down 786,000 b/d from the US Energy Information Administration’s reported figure for the same period. The slowdown on exports would put weekly crude export volumes at their lowest level in over three months, according to cFlow, but a broader and more prolonged slowdown in US crude export volumes was not expected.

Platts is part of S&P Global Commodity Insights.