With the market on an appetite to demonstrate the value of WTI, new price assessment methods are making strides.
FREMONT, CA: A leading provider of information and benchmark prices for energy markets, S&P Global Platts launches price assessments for WTI Midland cargoes DES Singapore, reflecting deliveries in Southeast Asia and DES basis Yeosu, and in North Asia. After comprehensive feedback from the participants in the market, S&P Global Platts has unveiled the new price assessments. This launch will meet the demand for additive pricing information that exhibits the growing supply of US light and sweet export grades. The rise in the US exports to over 2.2 million barrels day overtime. It has created opportunities for sellers of US crude and several sets of buyers globally. Price assessments evaluate the growing market price of commodities on a daily basis by surveying market associates and tracking transactions. With this assessment, companies can publish their conventional assessment of expenses, which market participants use to settle contracts bound with market pricing.
With Asia becoming the core destination for US crude, cargoes for delivery is sold on a Delivered at Place (DAP) basis of three months from the time of publication. With this launch, building a comprehensive picture of a commodity's operational assets and trade streams with the company's range of maps, geospatial data and web applications are more accessible. It develops firm action plans based on real-world coordinates that use maps which are easily shared. Price assessments visualize and understand commodity infrastructure, trade flows, and new projects. Platts MOC first listed Dated Brent in its price assessment process after WIT Midland trade. Next up was the first offer of WTI Midlandin the Platts Asia MOC. Identifying viable investment possibilities with the support of a quality and relevant mapping data layers is now easier.
Price assessments indicate price data from both buyers and sellers of a given commodity. It is a crucial element to ensure that prices are an ideal representation of market investment. Price assessments also indicate data from large and small market members. It is the ascertainment of the current market price for crude oil or refined product at a point in time.
S&P Global Platts is a provider of petrochemicals, energy, and metals information worldwide. It is a premier origin of standard price assessments for the commodity market. The company provides market insights for its clients to make informed trading and marketing decisions. Knowing that data is the key to decision-making, the company focuses more on knowledge and experience. This creates a difference for people by making a variation and giving insight that helps consumers interpret fluctuations, reveal new commercial possibilities, and achieve a competitive advantage. It engages market participants, industry organizations, regulators, and customers daily through forums, training sessions, and one-on-one meetings. S&P Global Platts provides the required intelligence for people, companies, and governments to make decisions with assurance.