SUBSCRIBER NOTE: Platts to amend US fuel oil, LPG MOC guidelines from July 1, 2016

Following a March 14, 2016, proposal and broad industry feedback, Platts has decided to change the guidelines in place for the fuel oil and LPG Market On Close assessment processes in the Americas with effect from July 1, 2016.

For USAC and USGC fuel oil MOC markets, Platts will raise the maximum allowed increment for physical and swaps positions to 10 cents/b every 30 seconds, up from the current 5 cents/b every 30 seconds.

Platts is also removing the current guideline which prevents any further price changes in the final minute of the fuel oil MOC.

Any price change in the final 20 seconds of the MOC will trigger a one-minute extension of the process for the bid or offer concerned.

For the LPG MOC, Platts is removing the current guideline which prevents any further price changes in the final minute of the MOC.

As with fuel oil, any price change in the final 20 seconds of the MOC will trigger a one-minute extension of the process for the bid or offer concerned.

There are no plans to change the maximum increment for the LPG MOC of 0.25 cent/gal every 30 seconds.

These changes will come into effect on July 1, 2016, coinciding with the previously announced change in the timing of the MOC for all Americas oil markets to 2:30 pm Eastern Time.

Please send comments or questions by email to americas_products@platts.com, with a cc to pricegroup@platts.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.