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First WTI Midland Cargo Trades in Platts MOC Assessment for Dated Brent

OIL

A cargo of US WTI Midland crude has traded in the Platts Market on Close assessment process for Dated Brent this week, the first since the grade's inclusion in the Dated Brent basket earlier this month according to Platts.

  • Significant volumes of US WTI Midland crude have already been nominated into the Cash BFOE chaining process -- a key part of the forward Brent market that underpins Platts Dated Brent.
  • The first WTI Midland cargoes were included in the benchmark on May 2.
  • Platts began assessing forward prices of WTI Midland in February under a major expansion of the Dated Brent benchmark to future-proof its underlying liquidity.

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