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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
