Brent’s future uncertain after Platts U-turn

摘要

A U-turn by price reporting agency Platts on plans to transform its Dated Brent benchmark into a delivered price has left the future of the world’s key oil pricing mechanism more uncertain than at any point in its history. Platts says it is shelving plans to convert Dated Brent to a cif Rotterdam benchmark — just two weeks after frst unveiling the plans to widespread in- dustry shock and objection. Platts has now deferred the proposed changes to Dated Brent and the forward North Sea — or Cash BFOE — markets. “This means that Dated Brent and all related assessments, including Cash BFOE, will remain unchanged on a fob basis,” it says.