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
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
