Platts proposes update to Middle East and Africa jet fuel index

S&P Global Platts is proposing to update the underlying assessments used in its Middle East & Africa jet fuel index with effect from Jan. 4, 2021, to better reflect market dynamics in the region.

The Middle East & Africa Jet Index currently comprises the FOB Arab Gulf jet fuel LR2 assessment (AAKNZ00) and the FOB Mediterranean jet fuel assessment (AAIDL00), with an equal weighting of 50% each.

From Jan. 4, 2021, Platts is proposing to use the FOB Arab Gulf jet fuel LR1 assessment (PJAAA00), the FOB Mediterranean jet fuel assessment (AAIDL00), the FOB STS Lome jet fuel assessment (AJWAA00) and the CFR South Africa jet fuel assessment (AAQWT00) in its calculation of the Middle East & Africa Jet Index.

The proposed change would involve the FOB Arab Gulf jet fuel assessment making up 55% of the index, the FOB Mediterranean assessment comprising 25%, the STS Lome assessment comprising 15%, and the CFR South Africa assessment comprising 5% -- broadly reflecting proportional demand for jet fuel in the Middle East and Africa.

The proposed change also takes into consideration recent changes to the Platts suite of assessments.

The Middle East & Africa Jet Index currently accounts for 7.1% of the Platts Global Jet Fuel Index. That weighted percentage would not be impacted as a result of this proposed change.

The Middle East & Africa Jet Index appears on Platts Global Alert page 115; in the Asia-Pacific/Arab Gulf Marketscan, European Marketscan, US Marketscan and Oilgram Price Report, as well as the Platts price database under the following codes:

Assessment Code

Jet Index MidEast & Africa (cts/gal) PJMEA07

Jet Index MidEast & Africa ($/b) PJMEA08

Jet Index MidEast & Africa ($/mt) PJMEA09

Jet Index MidEast & Africa relative value PJMEA00

Please send any feedback or questions by Nov. 13, 2020, to asia_products@spglobal.com and pricegroup@spglobal.com.

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