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 $65.93/b, unchanged against forward Dated Brent strip
  • US crude flows to Europe outpace those to Asia over week ending May 7: cFlow


Platts American GulfCoast Select was assessed at a $65.93/b on May 7, strengthening against the 15- to 45-day forward NYMEX WTI strip, as a fresh report from cFlow, S&P Global Platts’ trade-flow software, showed US crude exports over the week ending May 7 fell from the week prior.


Against the forward NYMEX WTI strip, Platts AGS was assessed 4 cents/b stronger on the day at a $1.08/b premium, while against the forward Dated Brent strip, the grade was assessed unchanged on the day at a $1.97/b discount.

US crude exports over the week ending May 7 were estimated at 2.447 million b/d, down over 1.3 million b/d from the cFlow estimate for the week ended April 30. While exports are expected to be lower on the week, for a second week in a row, US crude flows to Europe have outpaced those to Asia, according to cFlow data. US crude flows to Europe averaged 1.198 million b/d, according to cFlow, compared with just 411,000 b/d of crude exports to Asia. Flows to Asia have not outpaced those to Europe since the week ended April 23.

Margins for US crude in Europe have been supported in recent weeks and European refiners were expected to be exiting the refinery maintenance season in June and July, according to S&P Global Platts Analytics. While Europe remains a major destination for US crude exports, it is rare for flows to the region to outpace those to Asia. In 2020, US crude exports to Europe averaged 1.095 million b/d compared with 1.44 million b/d of US crude flow to Asia, according to official US Census Bureau data.


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