Platts Introduces Mechanism to Ensure Integrity of World's North Sea Brent Oil Benchmark.
PR Newswire Europe, July, 2007
NEW YORK, July 2 /PRNewswire/ --
Platts, the world's leading energy information provider and a division of The McGraw-Hill Companies (NYSE: MHP), today said it will further enhance its methodology for assessing the price of Dated Brent crude oil, the world's premier oil benchmark.
Platts currently determines its Dated Brent assessment by tracking the most competitively priced of Brent, Forties, Oseberg and Ekofisk crudes produced in the North Sea. On June 7, 2007, Platts implemented a quality threshold of 0.6% sulfur for Forties crude oil to be considered in Platts' North Sea assessments. Today Platts is further enhancing the quality standard on Forties crude by introducing a "price de-escalator" that will adjust downward the price of oil delivered...
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