Platts to change basis for USGC naphtha, blendstocks

Platts is seeking comments on a proposal to change the underlying basis for US Gulf Coast reformer-grade naphtha and gasoline blendstock assessments from its waterborne gasoline assessments to its pipeline gasoline gasoline.

Currently, USGC reformer-grade naphtha, alkylate, reformate, and raffinate are assessed as a differential to USGC low octane (87 M) waterborne gasoline.

Typical market practice in the USGC has shifted, and naphtha and gasoline blendstocks are now more commonly traded as a differential to USGC low octane (87 M) Colonial pipeline gasoline. This change would affect barge and cargo assessments for naphtha, heavy naphtha, as well as alkylate, reformate and raffinate.

Platts publishes its USGC alkylate, reformate, and raffinate assessments as a differential, but its naphtha and heavy naphtha assessments are published as an outright price.

Under this proposal, Platts would calculate the underlying value of USGC 87 pipeline gasoline to line up with the five to 15 days forward timing for its naphtha assessments, rather than using a prompt pipeline cycle alone as the basis.

These assessments appear in Platts Global Alert, Platts Oilgram Price Report, US Marketscan and on Platts Dispatch.

Platts is proposing to make these changes effective July 2.

Please provide feedback or submit questions by June 1 to americas_products@platts.com and pricegroup@platts.com.