"Continued strong growth in demand for crude in Asia, increasing purchases of European and West African crude, and new US flows have taken the region past the tipping point in shaping the value of crude oil in markets around the world," the company said in a subscriber note to clients The new assessments will help market participants better analyse the competitiveness of crude flows that increasingly feed the demand of buyers across the region, Platts said.
The assessments will include freight and any other relevant costs into North Asia and will be published in addition to existing price assessments, it said.