Oil Price Architect Marshals More Crude Supply After China Spree - Bloomberg Business:
"When you determine the price of most of the world’s oil, you need to keep up with the times.
That’s why Platts, which publishes benchmarks for crude from Colombia to Norway to Australia, is changing how it sets one key marker. After an unprecedented buying spree by a Chinese trader rattled the market for Middle East crude in August, the information provider will use more oil grades when deciding how much the region’s shipments cost. That’ll raise the volumes underpinning the company’s system and ensure that prices reflect supply and demand, according to consultants KBC Process Technology Ltd. and IHS Inc."
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