Platts to change US crude FOB USGC typical cargo sizes effective June 1

Following industry feedback, Platts will change its typical and minimum and maximum cargo sizes for WTI, Bakken, Eagle Ford and Eagle Ford Condensate FOB USGC crude assessments effective June 1.

The decision follows a May 18 proposal: www.spglobal.com/platts/en/our-methodology/subscriber-notes/051820-platts-proposes-to-change-us-crude-fob-usgc-typical-cargo-size-effective-june-1

For WTI, Eagle Ford, and Eagle Ford Condensate, Platts will change the typical cargo size from 600,000 to 700,000 barrels with a 550,000-barrel minimum and 800,000-barrel maximum. Market feedback indicates cargoes loading at docks in Houston and Corpus Christi—which account for the majority of WTI, Eagle Ford and Eagle Ford Condensate export cargoes—are usually loading to about 700,000 barrels.

For Bakken crude, the typical cargo size will remain 600,000 barrels as most cargoes are loaded from the Beaumont/Nederland area, where draft restrictions limit cargo size. A minimum and maximum cargo size will now be applied to this assessment of 500,000 barrels and 700,000 barrels, respectively. For all of these grades, Platts will typically consider a cargo within the minimum and maximum cargo size for the assessment but may normalize the bid, offered, or traded value to reflect the typical cargo size for that grade. This normalization would usually be underpinned by a calculated lump-sum US-to-UK Aframax freight value based on that day's freight assessment (Platts symbol: TDUCF00).

Please send all further feedback and comments to americas_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.