Platts announces the forthcoming launch of Follow-the-Sun Oil Forward Curves

Platts proposes to launch Follow-the-Sun (FtS) oil forward curves, which, when combined with the Platts Forward Curve -- Oil (PFC-Oil), will create a comprehensive set of global oil forward curves at each of three (Asia, EMEA and Americas) market-on-close (MOC) time stamps every day.

Platts publishes PFC-Oil for each of the major regional oil markets: PFC-Oil Asia, at MOC time-stamp Singapore 16:30; PFC-Oil EMEA, MOC time-stamp London 16:30; and PFC-Oil Americas, MOC time-stamp New York 15:15.

The PFC-Oil series provide Platts editorial "observations and assessments" of the crude oil and refined products markets in the respective regions at each of these MOC times. The PFC-Oil series includes "observations and assessments" of the major "global" crudes (Brent, Dubai and WTI) and regionally delivered refined products.

The FtS Oil Forward Curve updates each of the PFC-Oil regional refined products assessments in turn, publishing time-adjusted assessments for the two following time-stamps. The FtS Oil Forward Curves "follow the sun" and create 2 FtS assessments at the MOC time-stamps following the original PFC-Oil regional market assessment.

In addition to the 3 PFC-Oil regional series (PFC-Oil Asia, PFC-Oil EMEA and PFC-Oil Americas), there will be 6 FtS series: FtS Asia+1; FtS Asia+2; FtS EMEA+1; FtS EMEA+2; FtS Americas+1 and FtS Americas+2. (The interval from the original PFC-Oil series to the respective FtS series is denoted by "+1" time stamp and "+2" time stamps).

The combined PFC-Oil series and FtS series form a 3 x 3 matrix, and each MOC time stamp forms a globally consistent set of forward price curves.

FtS Oil Forward Curves will be delivered as market data using 3 character market data categories (MDC). Each FtS series is split into separate MDCs, dividing the refined products into Fuel Oil (Heavy); Middle Distillates and Light Ends. In addition, there are separate MDCs for the respective cracks; Each of the 6 FtS series include 6 MDCs, making 36 FtS MDCs in total.

Illustrated here: http://plts.co/ftsMay13 Follow-the-Sun Oil Forward Curves will commence publication on June 3rd, 2013.

If you have any comments or questions regarding this announcement, please contact your local Platts Customer Care representative, or email support@platts.com and copy pl_DataQA@platts.com by May 31, 2013.