Platts launches MTBE US Gulf Coast differential assessment to NYMEX RBOB

Platts, part of S&P Global Commodity Insights, launched a US Gulf Coast MTBE differential versus NYMEX RBOB futures, effective April 10, 2023, in light of market feedback.

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

The differential is assessed versus the prevailing front-month NYMEX RBOB futures at 1:30 pm CT each day. Platts rolls the differential to the next month (forward month) NYMEX RBOB contract when the assessed mid-window and back-end (eight to 15 days forward) portion of the five-to-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 has launched 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 basis, where applicable.

The original proposal can be viewed here.

The new US Gulf Coast MTBE vs NYMEX RBOB differential assessment is published alongside the outright assessment in the Europe and Americas Petrochemicalscan, on page 434 of the Petrochemical Alert, on Platts Dimensions Pro and in the Price Point Database under the following symbols: daily codes: MTNYA00, MTNYB00; weekly averages MTNYA04, MTNYB04; monthly averages MTNYA03, MTNYB03.

Please send any questions, comments or feedback to petchems@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.