Platts to launch MOPAG jet fuel/kerosene, gasoil LR2 netback assessments, gasoline LR1 netback assessments Jan 2, 2026

Platts, part of S&P Global Commodity Insights, will launch FOB Arab Gulf jet fuel/kerosene, gasoil LR2 netback assessments, as well as FOB Arab Gulf RON 92 and RON 95 LR1 netback assessments on Jan. 2, 2026.

This decision follows a proposal note published Aug. 21: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/082125-platts-proposes-to-launch-mopag-jet-fuelkerosene-gasoil-lr2-assessment-and-gasoline-lr1-assessments-on-jan-2-2026

The launch of these netback assessments comes amid observations of increased use of larger vessels to load gasoil, jet fuel, and gasoline from the Arab Gulf.

The new netbacks will follow the same methodology applied to Platts' existing suite of MOPAG netback assessments.

The FOB Arab Gulf jet fuel/kerosene and gasoil LR2 assessments will be calculated as a netback from the benchmark FOB Singapore assessments using 80,000 mt (LR2) clean tanker freight rates (TCAEA00), while FOB Arab Gulf RON 92 and RON 95 LR1 assessments will be calculated as netback from the benchmark FOB Singapore assessments using 55,000 mt (LR1) clean tanker freight rates (PFAFB10).

For gasoil and jet fuel/kerosene, the flat basis rate used to calculate the FOB Arab Gulf assessments, is based on the average of four ports, namely Jubail, Bahrain, Ras Tanura, and Mina al-Ahmadi (inclusive of port charges at Jubail and Ras Tanura), to Quoin Island, plus the prevailing Worldscale flat basis rate from Quoin Island to Singapore.

At the same time, the flat basis rate used to calculate the FOB Arab Gulf gasoline assessments is based on Jebel Ali (inclusive of port charges at Jebel Ali), to Quoin Island, plus the prevailing Worldscale flat basis rate from Quoin Island to Singapore.

The actual freight applied to derive the FOB Arab Gulf netback assessments is calculated by multiplying the base rate against the Worldscale freight spot assessment published daily in Platts Clean Tanker Wire.

More details of Platts Middle East clean refined products netback methodology can be found here: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/refined-products/refined-products-asia-pacific-middle-east-specifications.pdf.

Platts had earlier discontinued its FOB Arab Gulf jet fuel/kerosene, gasoil LR2 netback assessments from Jan. 4, 2021, available here: Platts discontinues MOPAG jet fuel/kerosene, gasoil LR2 assessments Jan 2021 | S&P Global.

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