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

Following industry feedback, Platts proposes to revise its WTI, Bakken, Eagle Ford, and Eagle Ford Condensate FOB USGC assessment typical cargo size from 600,000 barrels to 700,000 barrels effective June 1.

Platts also proposes to include a 550,000-barrel minimum and 800,000-barrel maximum for cargoes that would be included in these assessments.

The symbols for these assessments on an outright basis are AAYBA00, ABAKC00, AAYAT00, and AAYAR00.

Platts understands that cargoes loading at docks in Houston and Corpus Christi with adequate draft availability are consistently loading to about 700,000 barrels. Industry feedback indicates this cargo size has become the market standard in FOB trading in the region.

Platts would reflect a typical cargo size within the minimum and maximum range of 700,000 barrels. For other cargo sizes within the above range, Platts may normalize these to a 700,000-barrel standard by considering freight cost on a per barrel basis compared to a 700,000-barrel cargo. This normalization would typically 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 by May 27 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.