Platts to publish MTBE US Gulf Coast differential assessment to NYMEX RBOB

Platts, part of S&P Global Commodity Insights, has decided to start publishing a differential versus NYMEX RBOB futures for its existing US Gulf Coast MTBE assessment, effective April 10, 2023, in light of market feedback.

Platts understands that NYMEX RBOB-related pricing is common market practice in the US Gulf Coast MTBE market and that it will bring greater flexibility to the market.

The original proposal can be viewed here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/022423-platts-proposes-to-publish-mtbe-us-gulf-coast-differential-assessment-to-nymex-rbob

Platts will publish the new differential alongside the outright assessment already published for this market.

The differential will be assessed versus the prevailing front month NYMEX RBOB futures at 1:30pm CT each market day.

Platts will roll the differential to the next month (forward month) NYMEX RBOB contract when the assessed mid-window and back-end (eight-15 days forward) portion of the five-15 day forward MTBE loading laycan falls entirely within the next calendar month.

This occurs eight calendar days prior to the end of the month inclusive of the last day of the month, or on the next trading day, if the roll date falls on a non-publishing day.

For example, on April 21 Platts will publish the differential against NYMEX May RBOB. On April 24 it will roll, and Platts will publish the differential against NYMEX June RBOB.

In addition to these changes, Platts will launch a new eWindow tool, which will allow market participants to bid, offer and trade on a RBOB-related basis, versus either the M1 RBOB or M2 RBOB contracts.

Platts may normalize any bids, offers and trades that are basis M2 RBOB to M1 RBOB, where applicable.

The differential will be: US Gulf Coast MTBE vs NYMEX RBOB. Please send any questions, comments or feedback to americas_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.