Platts reviewing Mideast crude pricing mechanism amid US, Israel attacks on Iran
- S&P Global Platts is reviewing the deliverability of Middle East crude from ports within the Gulf
SINGAPORE: S&P Global Platts is reviewing the deliverability of Middle East crude from ports within the Gulf amid heightened safety concerns amid the US and Israeli attacks on Iran, according to a note from the global pricing agency reviewed by Reuters on Monday.
“This review has been initiated because market participants have notified Platts that major shipping companies have halted transit through the Strait of Hormuz amid heightened safety concerns after Israel and the US launched air strikes on Iran on Feb. 28, 2026,” Platts said in the note.
Platts will given further guidance in another subscriber note at 2 p.m. in Singapore (0600 GMT) on how it will assess Dubai partials and performance expectations around bids and offers in the Platts Market on Close assessment process for Middle East crude, it said.