For flagship US crude, 2020 has been a year of challenges, changes

It has been a big year for the US flagship crude, West Texas Intermediate, and in particular the way that grade is priced.

Following significant growth of US crude exports before the pandemic and then the April 20 price collapse of the NYMEX WTI contract, S&P Global Platts launched its AGS assessment for
waterborne cargoes of WTI Midland loading on the US Gulf Coast.

Then just last week, Platts captured the global oil industry’s attention with its proposal to include WTI Midland in the Dated Brent global benchmark beginning in March 2022.

In today's podcast we'll review how Platts AGS has performed since its launch in June amid challenging fundamentals for global oil markets.