Platts to launch WTI Midland CIF Rotterdam crude assessment basis 12 days to month-ahead

Effective July 1, 2021, S&P Global Platts will publish a daily assessment for WTI Midland CIF Rotterdam crude oil on a 12 days to month-ahead basis.

In recent North Sea crude oil consultations, Platts received support for a comparable WTI Midland CIF (cost, insurance, freight) Rotterdam assessment aligned with the same 12-month ahead CIF Dated Brent Strip and delivery period as the existing Dated Brent CIF Rotterdam basket (Brent/Ninian Blend, Forties, Oseberg, Ekofisk, and Troll).

QUALITY: The new WTI Midland CIF Rotterdam assessment will reflect the value of oil delivered to Rotterdam 12 days to month-ahead, published as both an outright price and as a differential to the North Sea CIF Dated Brent Strip. Platts reflects WTI Midland crude oil which falls within its globally applicable specifications in the Market on Close assessment process. This includes gravity in a range of 40-44 API degrees and a maximum sulfur level of 0.2%.

Further specifications can be found in the subscriber note, available here:

PRICING: Platts understands that delivered US crude trading in Europe typically uses Dated Brent as a pricing basis, but also reflects outright price indications and those based on Cash BFOE and ICE Brent Futures. Platts will publish bids, offers and trades using these and other reasonable pricing terms. Platts publishes bids, offers and trades pricing on a 2-1-2 around deemed Bill of Lading (B/L) basis as standard. For assessment purposes Platts will calculate WTI Midland CIF Rotterdam indications back to a deemed B/L two days before the first day of the original bid or offered laycan date.

VOLUME: Platts will continue to reflect a standard Aframax cargo size of around 600,000 barrels with an operational tolerance +/- 5%, although cargoes of between 500,000 barrels and 700,000 barrels may be bid or offered in the Platts Market on Close assessment process, normalized back to a 600,000 barrel standard.

Where applicable, the existing Dated Brent CIF Rotterdam methodology guidelines will apply.

Please send all comments to and 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.