European fuel oil curve extensions

Due to clear customer demand for longer fuel oil forward curves and enhanced granularity for fuel oil swaps in Europe, from March 30, 2009, Platts will extend its European fuel oil swaps curves by 2 forward months and up to 2 forward years.

The 1% fuel oil FOB NWE cargo swaps and the 3.5% fuel oil FOB ARA barge swaps will be extended to 6 months and 3 years forward.

Due to limited liquidity at the back end of the curve, the 3.5% fuel oil FOB MED cargo and 1% fuel oil ARA barge swaps curves will be extended to 6 months and 2 years forward.

The monthly and calendar year extensions will provide participants a more detailed and long-term view of the overall structure of the fuel oil markets and enhance the product offering.