Dated Brent—all change but business as usual
The sheer scale of financial infrastructure around the crude market’s most important global benchmark means the wider trading market will largely shrug off any physical implications from a Fob-to-Cif switch
The storied Dated Brent contract could see another major plot twist in July next year, with price reporting agency (PRA) S&P Global Platts proposing to change the assessment from a Fob to Cif Rotterdam basis. It also intends to include the US WTI Midland grade in the basket alongside existing North Sea crudes. There has been a Cif element in Brent since October 2019, when Platts began including Cif Rotterdam trades of the constituent Brent, Forties and Norwegian Oseberg, Ekofisk and Troll grades, adjusted back to Fob using a freight calculator. And the PRA opened a consultation in December on including the US WTI Midland grade in Brent from March of next year. Sverdrup option So, the swi
Also in this section
15 January 2025
The oil and gas industry will replace its capital discipline with Trump compliance and consumers will benefit from lower gasoline prices
15 January 2025
How legislative reforms and ambitious exploration plans are transforming India into a global energy investment hotspot—and why international investors are taking notice
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
