Big energy traders exploit Platts' rule to reroute US oil shipments, raising concerns about Brent benchmark effectiveness.

Big energy traders have exploited a clause in Platts' rules to reroute U.S. oil shipments initially destined for Europe, raising concerns about the effectiveness of reforms to the Brent benchmark. This practice may distort the perception of demand and affect pricing, despite Platts stating it has not received complaints. Major trading firms like Trafigura and Vitol are involved, further complicating the accuracy of Brent's reflection of market dynamics.

October 01, 2024
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