Platts seeks immediate feedback on deliverability of Middle East crude oil in Platts Dubai crude benchmark

Platts, part of S&P Global Energy, seeks immediate feedback on the deliverability of Middle East crude oil and Platts Dubai crude benchmark methodology due to the rapidly evolving situation in the Middle East.

This follows a March 2 subscriber note in which Platts suspended nominations of crude grades requiring transit through the Strait of Hormuz.

Platts seeks feedback on, but not limited to, the following scenarios:

Scenario 1:

A resumption in vessel traffic through the Strait of Hormuz

• What would be a sufficient resumption in vessel traffic through Hormuz, to consider shipping restrictions lifted.
• Timelines for resuming nominations for crude oil cargoes loading from ports inside the Middle Eastern Gulf in the Platts MOC process.

Scenario 2:

Continued escalation of the conflict and further disruption to shipping operations outside the Strait of Hormuz

• Suggested methodology i f the conflict impacts loadings of grades in the Dubai basket that load outside the Middle Eastern Gulf.

Platts continues to monitor performance against trades previously reported in the Platts Market On Close process in line with existing editorial guidelines.

Please send any feedback or questions to asia_crude@spglobal.com and pricegroup@spglobal.com . 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 upon request.