A lot of implications from this Platts move. 1) the North Sea is running out of oil --> bad for ICE who owns Brent market 2) WTI added to Brent index --> good for CME who owns WTI market 3) S&P Global is flexing its index power muscles once again.https://www.bloomberg.com/news/articles/2021-03-03/platts-says-sorry-to-oil-traders-for-sudden-overhaul-to-brent …
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Replying to @HideNotSlide
https://www.reuters.com/article/us-oil-platts-brent-idUSKBN2B302P … You see this update? "Platts proposal would likely undermine and possibly destroy the forward Brent market... the whole plethora of derivatives contracts would probably change or disappear".
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Replying to @Twasluck1
Oooh interesting... i did not see this. Thanks for sharing! I smell a future Friday post on thispic.twitter.com/jfsVkITtPi
5:15 PM - 22 Mar 2021
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