ADNOC Abandons Murban Benchmark, Shifts Gulf Crude Pricing to Platts Dubai
🛢️ ABU DHABI — ADNOC just rewrote how Gulf crude gets priced. Why now? 📌 LOOK CLOSER: Murban futures were ADNOC's own benchmark, launched 2021 — switching to Platts Dubai signals that benchmark has lost liquidity under Hormuz war-risk. With transits at 10%, markets need pricing that reflects actual traded cargoes. European buyers lose an independent Gulf reference; pricing power shifts back to Platts assessors at the worst possible moment.
