Platts to change USGC resid timing window June 1

Platts is planning to change the timing window for its physical US Gulf Coast fuel oil assessments to five-13 days forward from date of publication on June 1, 2010. Currently, all Platts USGC fuel oil assessments reflect four-12 days forward from date of publication.

Platts has received feedback from participants that operational issues four days forward due to the prompt nature of that timing can cause distortions in the market. As part of this proposal, Platts is also planning to standardize the timing laycans that are bid or offered during the Market on Close assessment process in the following manner: front window (five-seven days forward), middle window (eight-10 days forward), back window (11-13 days forward), and full window (five-13 days forward, with the counterparty to declare three-day window upon lifting).

Please respond with questions or comments to Robert Sharp, Robert_sharp@platts.com, Esa Ramasamy, esa_ramasamy@platts.com, with a CC to pricegroup@platts.com.