Platts has launched Americas Crude Marker, a crude oil price assessment intended to rival the market standard West Texas Intermediate – traded on the Nymex and ICE Futures Europe – which has been criticised recently because its price has fluctuated wildly and diverged from the cost of Brent crude.
The US energy information company began publishing its new Americas Crude Marker assessment daily on March 16. It is as an end-of-trading-day value, consistent with the Platts Market-On-Close price assessment process in oil.
The ACM reflects the most competitively priced crude oil among the Mars, Poseidon, Southern Green Canyon and Thunder Horse blends from the US Gulf of Mexico.
The combined production of these crudes...