Platts removes Texas International Terminal from Brent complex assessment process

Platts, part of S&P Global Energy, has removed Texas International Terminal in Galveston, Texas, from being an approved loading terminal for WTI Midland crude oil in its Dated Brent and Cash BFOE Market on Close assessment process, effective immediately.

Platts has taken this decision as Texas International Terminal has not consistently met Platts criteria for an approved US Gulf Coast crude oil terminal for WTI Midland in the Brent MOC.

This means that Texas International Terminal is no longer on the list of approved terminals for inclusion in Platts Dated Brent assessment.

As a result, effective immediately, sellers are no longer able to nominate WTI Midland loaded from Texas International Terminal for trades published in the Dated Brent and Cash BFOE assessment process.

Platts monitors the performance of approved terminals on an ongoing basis and will remove terminals if they do not consistently meet the required criteria. Platts clarified its USGC terminal review process for WTI Midland in the Brent Complex June 8, 2022, and further clarified expectations for reviewed terminals Sept. 22, 2022.

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