Platts continues to seek feedback on Dubai crude methodology amid evolving Strait of Hormuz transit

Platts, part of S&P Global Energy, continues to seek feedback on its Dubai crude methodology during the ongoing war in the Middle East and in light of an evolving shipping environment through the Strait of Hormuz.

Platts previously consulted the market on two potential scenarios in a March 16 note, following the suspension of nomination of grades requiring transit through the Strait of Hormuz on March 2.

Due to the ongoing developments impacting the region and transit through the Strait of Hormuz,  Platts is seeking further feedback on the Dubai methodology relating to the resumption of vessel traffic through the Strait, as well as the timelines for implementation of any methodology change addressing this scenario. Platts requests feedback by May 1, 2026.

 In the event of vessel traffic increasing through the Strait, Platts is seeking feedback on the following:

• What would be considered a sufficient volume of traffic and an appropriate timeline for demonstrating non-restricted vessel transit through the Strait of Hormuz?
• What is an appropriate timeline and process for resuming nominations for crude oil cargoes loading from ports requiring transit of the Strait in the Platts Market on Close assessment process? 

 In addition, Platts continues to welcome feedback on an alternative scenario of further escalation of the conflict in the region, if that were to result in disruption to operations for grades in the Dubai basket loading outside the Strait of Hormuz.

Platts has received extensive market feedback regarding its Dubai methodology in relation to the war in the Middle East. The feedback received has been extremely broad, including the potential addition of other sour crude as deliverable grades into the Dubai benchmark. Platts seeks feedback on the specific mechanisms for delivery or otherwise in relation to this suggestion.

Please send any feedback or questions to asia_crude@spglobal.com and pricegroup@spglobal.com by May 1. 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.