Following a series of extensive stakeholder consultations and proposal periods, price reporting agencies S&P Global Commodity Insights (Platts) and Argus announced that WTI Midland will be included as part of their physical North Sea Brent basket price assessments, from June 2023 deliveries onwards. This widely accepted decision comes as a result of the dwindling production from the North Sea and the need to introduce new barrels to maintain the benchmark’s robustness.