Platts restricts Qatari-loading crude in pricing process

7 Jun 2017   Qatar

Oil pricing agency S&P Global Platts said it will not automatically include Qatari-loading crude in its Middle East benchmark after Saudi Arabia and some other Arab states cut ties with Doha, a move that disrupted traditional shipping routes. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain said on Monday they would sever all ties including transport links with Qatar, escalating past diplomatic disagreements. Within hours, the UAE barred all vessels coming to or from Qatar using its anchorage point off Fujairah, a popular location for bunkering, where vessels take on fuel of their own. Platts’ move is unlikely to have a significant impact on the broader oil market because Qatar is one of the smaller producers in the Organization of the Petroleum Exporting Countries. Any disruption to Qatar’s liquefied natural gas exports, an area in which it is a major world player, could hit global prices, but there […]

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