Crude Methodology Update

What is changing. Load structure will be removed from all Dated Brent arb calculations and set to zero. The calculation will apply only the time spread between load and delivery on the forward Dated Brent curve.

Why. Origin and landed values are currently set against the forward Dated Brent curve, with load structure added on top. Load structure is the spread between the forward Dated curve in the load window and the prior day's Dated Brent print, applied to price cargoes on a Dated print basis. Your feedback indicates this no longer reflects how most Dated traders value these arbs. Removing it aligns our numbers with prevailing market methodology.

If you’d like a walkthrough of this update, reach out to your Customer Success manager at success@spartacommodities.com.