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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?

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Platts AGS 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 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 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 at $63.21/b
  • No vessels loaded at LOOP yet in February


Platts American GulfCoast Select was assessed broadly weaker on Feb. 23, falling 30 cents/b on an outright basis to $63.21/b, while weakening against both the 15 to 45 day forward NYMEX WTI and Dated Brent strips.


Against the 15 to 45 day forward NYMEX WTI strip, Platts AGS was assessed 29 cents/b lower on the day at a $1.71/b premium, while against the forward Dated Brent strip, the grade was assessed 33 cents/b lower at a $1.10/b discount.

Offer levels for March loading WTI FOB cargoes out of the US Gulf Coast were heard to weaken from previously heard levels, falling to a $1.10/b discount to May ICE Brent futures and $1.20/b discount to May ICE Brent. With offer levels weakening, Platts AGS' spread to WTI MEH fell to just 9 cents/b on Feb. 23, down from an average 37 cents/b premium over the previous five trade days.

Two fixtures for late February loading vessels out of the USGC destined for Europe were heard on Feb. 23: an Aframax, the ExxonMobil chartered Minerva Olympia slated for Feb. 24 loading, and the Mercuria chartered Suezmax, Karvounis, set for Feb. 25 loading, according to S&P Global Platts fixtures data.

Notably, after a record month in January, no exports out of the Louisiana Offshore Oil Port have been recorded thus far in February, however one VLCC, the Amad, is slated to load out of LOOP on Feb. 26. But it remains to be seen if the vessel will load in time to be counted in the month of February, according to Kpler data. LOOP, the only USGC oil port that can fully load a VLCC, tends to load medium sour barrels like Mars crude.


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