In May 2023, the world's most important oil price benchmark, Platts Dated Brent, which is used to underpin the price of significant volumes of traded crude oil, saw the addition of the first non-North Sea crude stream into its deliverable basket of grades: WTI Midland. Since then, the benchmark has seen liquidity skyrocket, the addition of new faces into the Brent complex’s long list of established market participants and, most importantly, the further strengthening of Dated Brent as a price indicator for commodity markets globally. In this episode of the Oil Markets Podcast, Joel Hanley is joined by Emma Kettley, Managing Crude Editor, and Sam Angell, Senior Crude Editor to discuss the one-year anniversary of Midland’s successful inclusion into the Dated Brent benchmark.
Related content: Infographic: Dated Brent April update Related story: April 2024 breaks trade liquidity records in Platts North Sea physical, Cash BFOE partials MOC
Mentioned price assessments: PCAAS00 - Dated Brent WMCRB00 - WTI Midland CIF Rotterdam vs Fwd Dated Brent $/bbl
