Any momentum towards Brent becoming a Cif benchmark is stalled for the short term
Future Brent options cement Fob status
The key promoters of the Brent crude trading complex have accepted that the benchmark will not be switching to a delivered status any time soon
Price reporting agency (PRA) S&P Global Platts and exchange Ice—owners of the Dated Brent physical benchmark and the most liquid Brent futures contract, respectively—have issued a paper on potential alternatives to boost tradeable volumes in the key global crude trading venue. The paper comes less than six months after the former caused market ructions with a surprisingly radical proposal to move assessments from their traditional Fob-loading point basis to a Cif-delivered basis. Several points already stand out. The first is that the PRA and exchange are moving in step again. Platts’ solo run in February exposed cracks in the relationship when a letter from Ice to Platts critical of the
Also in this section
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
27 January 2025
Asian neighbours seek resolution on territorial dispute for hydrocarbons development that has spanned decades
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
