Dated Brent—all change but business as usual
The sheer scale of financial infrastructure around the crude market’s most important global benchmark means the wider trading market will largely shrug off any physical implications from a Fob-to-Cif switch
The storied Dated Brent contract could see another major plot twist in July next year, with price reporting agency (PRA) S&P Global Platts proposing to change the assessment from a Fob to Cif Rotterdam basis. It also intends to include the US WTI Midland grade in the basket alongside existing North Sea crudes. There has been a Cif element in Brent since October 2019, when Platts began including Cif Rotterdam trades of the constituent Brent, Forties and Norwegian Oseberg, Ekofisk and Troll grades, adjusted back to Fob using a freight calculator. And the PRA opened a consultation in December on including the US WTI Midland grade in Brent from March of next year. Sverdrup option So, the swi
Also in this section
2 June 2025
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
2 June 2025
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
30 May 2025
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
29 May 2025
Sovereignty is the watchword for the new government, but there are still upstream opportunities for those willing to work closely with the state
