In a bid to boost the liquidity of the Brent international crude oil benchmark, S&P Global Platts plans to reform the way Dated Brent is being assessed as of November 2019 loadings, Platts said on Monday. S&P Global Platts proposes to reflect competitive offers of North Sea crude grades on a freight-adjusted cost, insurance and freight (CIF) Rotterdam basis in its free on board (FOB) Dated Brent crude oil benchmark for cargoes loading in November 2019 onwards. The key reason for planning to include CIF assessment is that FOB crude supply in the North Sea is gradually declining, Platts said. “This proposal will allow the inclusion of more relevant market data in the benchmark on a daily basis, and ensure that every barrel of the grades currently reflected in Dated Brent is able to play the fullest possible role in establishing the value of North Sea crude,” according to […]