Dated Brent gets another makeover
The world’s most important Fob oil benchmark will get a new Cif element from October
Dated Brent is without doubt the most influential and iconic oil benchmark price. But, since 2002, its name has been misleading, as a decline in production from the Brent system has seen other grades added, initially Forties and Oseberg in 2002, followed by Ekofisk in 2007 and Troll in 2017. The Brent market has also become more complex, as the arrival of the Buzzard field—with substantial quality difference to the rest of the Dated Brent fields—into the Forties system in 2007 required a sulphur de-escalator to be introduced. Quality premia for Ekofisk and Oseberg were introduced in 2013 and revised in 2014, while a Troll premium will be added in April this year. The window length has also c
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