SUBSCRIBER NOTE: Platts amends US fuel oil, LPG MOC guidelines

In line with a decision announced April 29, 2016, and following an earlier formal consultation period with the industry, Platts has changed the guidelines in place for the fuel oil and LPG Market On Close processes in the Americas with effect from July 1, 2016.

For USGC and USAC fuel oil MOC markets, Platts has raised the maximum allowed increment for physical and swaps positions to 10 cents/barrel every 30 seconds, up from the previous 5 cents/barrel every 30 seconds.

Platts has also removed the guideline which prevented 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 has removed the guideline which prevented 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 cents/gal every 30 seconds.

These changes come into effect on July 1, 2016, coinciding with the change in the timing of the MOC for all Americas oil markets to 2.30 pm Eastern Time.

Please send all 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.