Price symbol Electric Power Platts proposes to discontinue its ULSD 10 ppm CIF NWE all-origin assessment and related spread from Jan 2, 2025

Platts, part of S&P Global Commodity Insights, is proposing to discontinue its ULSD 10 parts per million CIF Northwest Europe all-origin assessment [ALORA00] and related spread to benchmark ULSD 10 ppm CIF NWE assessment [ALORB00], effective Jan. 2, 2025.

This proposal follows on from a consultation detailed here.

Platts opened the consultation in November 2022 to seek industry feedback on how best to provide continued transparency into the Russian-origin diesel market following EU sanctions on Russian oil products which came into force in February 2023. Following this, the ULSD CIF NWE all-origin assessment no longer reflects Russian-origin product, as its current methodology is on a CIF Northwest Europe basis.

In particular, Platts invited feedback on the future of the ULSD CIF NWE all-origin assessment and related all-origin spread [ALORB00], and whether these assessments should be discontinued or amended to reflect the continued flow of Russian oil products to markets outside the EU.