Platts moves assessment date ranges for USAC Buckeye Pipeline refined products

Platts, part of S&P Global Commodity Insights, has shifted forward its assessment date ranges for US Atlantic Coast Buckeye Pipeline ULSD, jet fuel and gasoline and Laurel Pipeline ULSD and gasoline with effect from Aug. 19, 2024, as a result of market feedback in response to changes to scheduling procedures on the pipeline.

In a notice issued on July 24, Buckeye Partners informed shippers on the pipeline that it would change its scheduling procedures effective Aug. 1, 2024. Buckeye said in the same notice it had submitted a tariff filing with the Federal Energy Regulatory Commission regarding schedule alterations affecting Buckeye Pipeline, Buckeye Linden Pipeline, Laurel Pipeline and Wood River Pipeline.

The changes specifically pertained to nomination origin confirmation timing, which required three full business days for refined product shipping origins to be confirmed, effective Aug. 1.

This follows a decision by Platts published Aug. 9, 2024: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080924-platts-to-move-assessment-date-ranges-for-usac-buckeye-pipeline-refined-products. Platts first proposed the change in a subscriber note published Aug. 2, 2024: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080224-platts-proposes-to-move-assessment-date-ranges-for-usac-buckeye-pipeline-refined-products.

Platts Buckeye and Laurel assessments for gasoline, jet fuel and ULSD previously reflected product loading three to seven days forward from the day of publication Monday through Wednesday and five to nine days forward Thursday and Friday.

To reflect the new requirements announced by the pipeline company, Platts has amended these assessment date ranges as follows from Aug. 19:

For bids, offers and trades published using the Platts eWindow software as part of its Market on Close assessment process, the five-day assessment range is divided into separate front end, mid window and back end instruments. As part of the change, the dates associated with these eWindow instruments have been moved as follows:

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