Platts to launch NYMEX differential assessments for USGC naphtha, gasoline blendstocks

Platts, part of S&P Global Commodity Insights, will publish differentials versus NYMEX RBOB futures for its existing US Gulf Coast standard naphtha, heavy naphtha, alkylate, reformate and raffinate assessments effective Nov. 1, 2022, in order to bring greater transparency to the naphtha and blendstock markets.

Platts first proposed this in a subscriber note published Sep. 13: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/091322-platts-proposes-to-launch-nymex-differential-assessments-for-usgc-naphtha-gasoline-blendstocks

Platts understands that NYMEX RBOB-related pricing has become increasingly prevalent in physical naphtha and blendstocks markets in the US in recent years. Platts will publish the new differentials alongside the assessments already published for these markets, which include outright assessments as well as differentials to Gulf Coast pipeline unleaded 87 and waterborne unleaded 87 gasoline.

The differentials will be assessed versus the prevailing front month NYMEX RBOB futures. Platts will roll the differentials for alkylate, reformate and alkylate to the next month NYMEX RBOB contract on the same day it rolls its USGC gasoline pipeline assessments.

For the naphtha assessments, Platts will assess the differentials versus the prevailing front month NYMEX RBOB futures, rolling forward when more than half of the assessed laycan falls into the next month.

Bids, offers and trades on a RBOB-related basis across the laycans will be evaluated as part of the assessment process for the differentials. Platts may publish bids, offers and trades priced off forward months, but these may be normalized for assessment purposes.

The new differentials will be:

Alkylate USGC Barge vs NYMEX RBOB

Reformate USGC Barge vs NYMEX RBOB

Raffinate USGC Barge vs NYMEX RBOB

Heavy naphtha USGC Barge vs NYMEX RBOB

Standard naphtha USGC Barge vs NYMEX RBOB

Please send any further questions, comments or feedback to americas_products@spglobal.com and pricegroup@spglobal.com.

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