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S&P Global Energy

S&P Global Energy is a division of that delivers comprehensive market data, benchmarks, and insights for global and commodities markets, empowering clients to make informed decisions through essential intelligence powered by a team of specialists. The division traces its roots to , when Warren C. Platt founded Platts, initially as a monthly called National Petroleum News to provide independent coverage of the . Over the decades, Platts evolved into a premier source of , , metals, and information, establishing key benchmarks that influence global trading. In 2022, following the merger of and , S&P Global Platts combined with IHS Markit's Energy and Natural Resources division to form S&P Global Commodity Insights; the division was rebranded as S&P Global Energy in November 2025, enhancing its capabilities in data, analytics, and market intelligence. Key offerings include real-time commodity prices and , tools, software solutions, AI-driven , consulting services, and insights, covering sectors such as , , metals, power, and shipping. Notable benchmarks provided include Dated Brent for crude , JKM for , and IODEX for , which adhere to International Organization of Securities Commissions (IOSCO) Principles for Price Reporting Agencies since 2013. The division serves over 15,000 organizations across more than 150 countries and hosts influential events like and the World Petrochemical Conference to foster industry dialogue.

Background and Founding

Origins in the Oil Industry

S&P Global Commodity Insights originated from the establishment of Platts, a pioneering provider of petroleum market intelligence. In 1909, journalist Warren C. Platt founded the company in , , launching National Petroleum News as a monthly focused on delivering reliable, on prices, refining processes, and distribution networks. This initiative emerged during the explosive growth of the U.S. in the early , following the 1911 breakup of , which had previously controlled much of the market and stifled transparency. Platt's publication filled a critical gap by offering verifiable information to refiners, distributors, and traders navigating an increasingly competitive landscape. The initial purpose of National Petroleum News was to promote market efficiency through objective reporting, countering the opacity that characterized the fragmented post-monopoly era. At a time when oil production surged due to new discoveries in states like and , the newsletter provided essential insights into capacities, transportation , and regional price variations, helping stakeholders make informed decisions amid volatile supply chains. Platt, who borrowed $2,500 to start the venture, emphasized accuracy to build trust in an industry rife with speculation and uneven information access. Early operations faced significant challenges, including stiff from established trade journals and the logistical hurdles of compiling precise data from disparate refineries and pipelines without modern communication tools. The oil market's fragmentation led to inconsistent , with regional disparities exacerbated by limited and rapid technological shifts in and . Despite these obstacles, National Petroleum News gained traction by prioritizing independence, establishing Platts as a authority in a sector transitioning from monopoly to multifaceted . A pivotal milestone occurred in 1923 with the introduction of the Platts Oilgram, a daily two-page newsletter that revolutionized real-time market reporting. Launched on June 9, 1923, it delivered immediate updates on crude and refined product prices, trade flows, and refinery operations, priced at $75 annually for subscribers. This publication quickly became indispensable for oil executives, regulators, and legal professionals, solidifying Platts' role as a of and foreshadowing its expansion into broader commodity insights.

Initial Publications and Expansion

In 1923, Warren C. Platt launched Platts Oilgram as a daily two-page dedicated to reporting oil prices, supply, and market information, with its inaugural issue dated June 9. Over the subsequent decades through the mid-20th century, Platts Oilgram evolved into a more comprehensive daily report, incorporating detailed analyses of oil supply chains, demand trends, and pricing dynamics to meet the growing needs of the expanding . By 1928, its U.S. Gulf Coast oil price assessments had become the basis for the first major international oil transaction between leading companies, underscoring the publication's early influence on global trade. During the 1930s and 1940s, Platts broadened its scope beyond crude oil to adjacent energy sectors linked to production processes, introducing enhanced coverage of refined products and related markets. In 1933, the company launched Platt’s Oilgram Price Report, which formalized early pricing methodologies for and , providing structured data that supported trading decisions amid economic volatility. This period also saw initial extensions into areas like , culminating in 1949 with the establishment of Platt’s Oilgram News Service, which integrated natural gas reporting to address interconnected energy demands in refining and distribution. The 1953 acquisition of Platts' publishing operations, including National Petroleum News and Platts Oilgram, by McGraw-Hill Publishing Company marked a pivotal integration into a larger , unlocking expanded resources for in-depth research, broader distribution, and more sophisticated reporting capabilities. This move facilitated greater investment in data collection and analysis, enabling Platts to enhance the accuracy and timeliness of its publications during the energy boom. Leading into the late but prior to 2000, Platts solidified its role in global commodity markets through the refinement of pricing methodologies that shaped oil trading standards. For instance, the 1987 launch of the Dated Brent assessment provided a transparent physical spot price for crude, becoming a cornerstone for hedging and settlement in worldwide contracts. These developments, building on the foundational work of Oilgram, positioned Platts as an authoritative source for energy market intelligence, influencing trading practices across continents.

Corporate Evolution

Key Acquisitions and Mergers

In 1994, Platts, the precursor to S&P Global Commodity Insights, acquired Metals Week, a leading publication for metals market intelligence, which enabled the launch of the real-time Platts Metals Alert service to provide timely pricing updates for the metals sector. The company continued its expansion in 2001 by purchasing FT Energy from , a move that significantly bolstered its expertise in power and markets through integrated database, , , and consulting services based in . Further growth occurred in 2010 with the acquisition of Bentek Energy, enhancing Platts' analytics capabilities and extending coverage to North American and gas and power markets with advanced tools. In 2011, Platts bought the Steel Business Briefing Group, which strengthened its news, , and analytical offerings in global metals and commodities by incorporating subscription-based electronic products for the industry. A series of strategic acquisitions in 2016 further diversified capabilities: Platts acquired RigData, a provider of daily rig activity data for North American oil and markets, though it was later sold to Drillinginfo in 2019; Flow, a and service for tracking global waterborne energy flows using AIS vessel data; and PIRA Energy Group, whose integration added deep insights into , , and broader energy markets through over 500 global clients' analytical needs. The most transformative event came in , when completed its merger with in an all-stock transaction with an enterprise value of approximately $140 billion, combining Platts with IHS Markit's Energy and Natural Resources division to form S&P Global Commodity Insights and create a comprehensive for commodities , , and benchmarks.

Rebranding and Structural Changes

In 2000, The McGraw-Hill Companies consolidated its information services, including Platts, into a newly formed unit known as The Platts Group, establishing a broader provider of market intelligence and consolidating operations across related assets. This structural change aimed to streamline offerings amid growing market volatility, positioning the group as a key player in data and analysis under McGraw-Hill's ownership. By 2016, following the corporate transformation of McGraw Hill Financial into Inc., Platts underwent a to S&P Global Platts, aligning its identity with the parent company's focus on essential intelligence across financial and commodity markets. This unified Platts' commodity price assessments and insights under the umbrella, enhancing brand cohesion and global recognition without altering core operations. The 2022 merger between and prompted further adjustments, leading to the formation of S&P Global Commodity Insights as a unified division that integrated S&P Global Platts with IHS Markit's Energy, Equipment, and Natural Resources businesses. This new structure was initially led by co-presidents Dave Ernsberger and Mark Eramo, shifting from Platts as a standalone entity to an integrated commodity intelligence unit, fostering synergies in data analytics, risk management, and global team collaboration to address complex market dynamics. In 2023, these integration efforts culminated in the launch of Platts Connect, a web-based platform that combines benchmarks, data, and insights into a customizable , enhancing connectivity across and sectors. In October 2025, Mark Eramo retired as co-president, with Dave Ernsberger assuming the role of sole president. On November 14, 2025, the division was rebranded as to sharpen its focus on global energy intelligence, while continuing to provide benchmarks, data, and analytics for energy and commodities markets.

Operations and Services

Core Offerings in Market Intelligence

S&P Global Energy provides essential market intelligence through a suite of services focused on delivering timely , in-depth , and to support in global commodity markets. These offerings encompass daily updates on key sectors including , , , chemicals, metals, , and shipping, drawing from real-time monitoring of supply chains, trade flows, and economic indicators. The intelligence is designed to highlight emerging trends and risks, enabling traders, producers, and policymakers to navigate volatile markets effectively. A cornerstone of these services is the provision of research reports that examine market trends, supply-demand forecasts, and the influence of geopolitical events on commodities. For instance, annual outlooks like analyze dynamics such as policy shifts and international tensions affecting energy and metals pricing. These reports, produced by sector experts, offer forward-looking insights into factors like decarbonization efforts and regional supply disruptions, helping stakeholders anticipate shifts in global trade patterns. Supporting these efforts is a global team of more than 5,000 specialists across more than 60 offices spanning five continents, who deliver insights through diverse channels including the bimonthly Insights Magazine and real-time alerts. Insights Magazine, published six times annually, features articles on dynamics, initiatives, and analytics across and commodities. Real-time alerts, such as those via Platts LNG Alert, provide immediate notifications on deals, breaking news, and price movements to ensure users stay ahead of fast-evolving conditions.

Analytics and Risk Management Tools

S&P Global Energy offers advanced tools that leverage proprietary data models to forecast prices, volatility, and trade flows in global energy and commodities markets. The Analytics Explorer platform, for instance, integrates algorithms and clustering techniques to generate predictive maps and optimize well performance, drawing on extensive geological, engineering, and seismic data to inform and strategies. These models help users anticipate market dynamics by analyzing historical trends and real-time inputs, reducing uncertainty in volatile sectors such as oil and gas. In , the company provides solutions like Platts Commodity Risk Solutions, which include forward curves extending up to 20 years for including , LNG, and power markets, enabling scenario analysis for potential disruptions and pathways. These tools incorporate NYMEX and ICE futures data alongside proprietary assessments to model differentials, spreads, and intraday fluctuations, allowing traders to against price in illiquid markets. For transitions, forward curves cover emerging , supporting evaluations of shifts toward renewables and low-carbon alternatives. Artificial intelligence and machine learning are integrated into these offerings to deliver predictive insights, particularly for markets like natural gas and metals. In Analytics Explorer, AI-driven geophysical facies classification and data imputation techniques process seismic and log data to forecast reservoir properties and identify infill opportunities, enhancing risk assessment through explainable models and bias detection. For natural gas, quantitative derivations of 10-year daily curves across regions like North America and Europe aid in volatility forecasting and trade flow projections. Similarly, metals market analytics benefit from these AI applications, providing forward-looking intelligence on supply disruptions and pricing trends. Custom consulting services complement these tools, offering tailored advisory for trading, hedging, and in commodity markets. Consultants conduct quantitative , asset valuations, and M&A advisory, utilizing a database of over 40,000 transactions to project business plans and optimize portfolios amid energy transitions. These services include techno-economic assessments for renewables and scenario-based hedging strategies to address vulnerabilities, ensuring clients meet compliance standards in evolving regulatory environments.

Products and Benchmarks

Platts Price Assessments

Platts Price Assessments provide transparent, market-based benchmarks for a wide range of commodities, reflecting the value at which market participants are willing to buy or sell on a given day. These assessments are produced daily by S&P Global Commodity Insights using rigorous methodologies that prioritize verifiable data to ensure reliability and impartiality in global trading. The core methodology for Platts assessments is divided into six key parts, encompassing input , and , determination of assessments, standards, , and handling of complaints. Market specialists gather high-quality input throughout the , including firm bids, offers, executed transactions, and other , primarily through direct surveys of buyers, sellers, and brokers via phone, , or the Platts eWindow . This informs the primary Market-On-Close () process, where prices are assessed at a predefined —typically the close of the assessment window—based on the prevailing bid-offer spreads and transaction levels that demonstrate repeatable activity. In cases of limited , expert judgment is applied, drawing on related and techniques to produce representative values, all while adhering to thresholds for and to avoid unrepresentative outcomes. The process emphasizes , with methodologies publicly disclosed and subject to ongoing review in consultation with regulators and participants. Prominent among Platts benchmarks is Dated Brent, a physical assessment of light crude oil cargoes loading 10-25 days forward, which serves as a global reference for over two-thirds of the world's internationally traded crude oil. For , the assessment captures the daily spot price at the Louisiana delivery point, widely used for pricing U.S. gas flows and derivatives. Platts also provides assessments for (LNG), including the Japan Korea Marker (JKM) for deliveries into , as well as benchmarks for metals such as on the London Metal Exchange and agricultural commodities like soybeans and corn through integrated coverage. These benchmarks span oil, gas, metals, petrochemicals, coal, and agriculture, enabling standardized pricing across physical and financial markets. Platts benchmarks play a pivotal role in global commodity markets by providing a neutral reference for pricing physical trades, derivatives contracts, and , underpinning a substantial portion of international transactions and enhancing market efficiency. They comply with the (IOSCO) Principles for Financial Benchmarks, which emphasize , , and to mitigate risks and ensure robust —principles Platts integrates through independent oversight, conflicts policies, and verifiable methodologies without financial interests in price outcomes. This alignment supports regulatory confidence and broad adoption in trading ecosystems. The evolution of Platts price assessments traces back to 1909, when the company was founded as a focused on U.S. oil prices, expanding in the 1920s with publications like Platts Oilgram to cover refining and distribution amid growing industry complexity. Initially oil-centric, assessments broadened in the late , with the introduction of Dated Brent in marking a milestone as the dominant global crude benchmark. Post-acquisitions, such as Metals Week in 1994 for metals coverage and Kingsman in 2012 for , Platts extended to (including Henry Hub leadership), LNG (with JKM launched in 2009 and further expansions in 2015), and other commodities, achieving multi-asset class scope under S&P Global Commodity Insights. In 2025, Platts expanded its benchmarks with daily cathode active material () assessments for battery markets effective March 24, and Weekly Platts Cement assessments launched January 23, covering global construction materials pricing.

Data Platforms and Publications

S&P Global Commodity Insights delivers commodity data and insights through a suite of integrated digital platforms designed for access and analysis across global markets. Platts Dimensions Pro serves as the flagship integrated platform, offering users a centralized hub for price assessments, interactive charts, breaking news, and historical data archives spanning up to 13 commodity sectors, including , , metals, and . Launched in , this web and mobile-accessible tool enhances interconnectivity by allowing seamless navigation between datasets, enabling traders and analysts to track market movements efficiently from any device. Complementing the platform are tiered commodity service packages, which provide subscription-based access tailored to specific sectors such as , gas, and metals. These packages offer customizable levels of data depth, from basic and updates to advanced features like integration for embedding Platts data into proprietary systems or third-party applications. For instance, the metals package includes ferrous and nonferrous assessments alongside historical archives, supporting automated workflows in trading and environments. In addition to digital platforms, S&P Global Commodity Insights maintains a range of print and digital publications to disseminate weekly and daily market intelligence. The Weekly Oilgram Price Report delivers in-depth analysis of global markets, including price trends, supply disruptions, and geopolitical impacts, serving as a key resource for energy professionals since its establishment. Platts Metals Daily provides daily prices, news, and commentary on nonferrous metals markets worldwide, while digital newsletters such as Platts Metals Alert offer real-time alerts on price shifts and industry developments. In 2023, following the integration of S&P Global's acquisitions, enhancements to the data ecosystem included the launch of Platts Connect, a web-based application that unifies and benchmarks, , and insights into a single, customizable interface for streamlined sharing and visualization. This platform builds on Dimensions Pro by incorporating over 15,000 content items, facilitating broader access to Platts' benchmark prices and analytics without disrupting existing workflows.

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