February 19, 2018 / 10:11 AM / a month ago

Oil price agency Platts to launch delivered North Asia crude assessments

SINGAPORE, Feb 19 (Reuters) -

* Oil price agency S&P Global Platts, a unit of S&P Global Inc , said on Monday it will publish daily price assessments for 11 crude oil grades on a delivered North Asia basis, from March 26

* The company said it will publish cost-and-freight (CFR) North Asia price assessments for Oman, Dubai, Murban, Upper Zakum, Qatar Marine, Basrah Light, ESPO, LOOP Sour, WTI MEH, Forties and Dalia

* “Continued strong growth in demand for crude in Asia, increasing purchases of European and West African crude, and new U.S. flows have taken the region past the tipping point in shaping the value of crude oil in markets around the world,” the company said in a subscriber note to clients

* The new assessments will help market participants better analyse the competitiveness of crude flows that increasingly feed the demand of buyers across the region, Platts said

* The assessments will include freight and any other relevant costs into North Asia and will be published in addition to existing price assessments, it said (Reporting by Jessica Jaganathan; Editing by Tom Hogue)

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