Platts starts reflecting a typical density of 0.67 to 0.735 kg/l in its European naphtha assessments

Platts, part of S&P Global Commodity Insights, has started reflecting a typical density of 0.67 to 0.735 kg/l for naphtha reflected in its European naphtha assessments and associated Market on Close assessment process, effective Nov. 1, 2024.

Platts European naphtha assessments had previously reflected open specification material with a minimum 65% paraffin content and a typical density of 0.69 to 0.735 kg/l. Following the Feb. 5, 2023, sanctions prohibiting the import of Russian oil products including naphtha into the EU, Platts received market feedback that the increased inflow of naphtha cargoes from a diverse set of countries outside of the EU had resulted in a shift in the typical density of naphtha imported into Northwest Europe.

Feedback received throughout the extended proposal phase suggested that, while 0.67 to 0.735 kg/l would currently reflect the most typical density range for naphtha cargoes delivered into Northwest Europe, it remains prevalent for market participants to reference the open specification naphtha limits in determining merchantability of material, which for density only defines a maximum specific gravity of 0.735 at 15 degrees Celsius. As such, Platts is not specifying a minimum acceptable density in its European naphtha assessments at this point.

Details of the decision can be found here: Platts to reflect typical density of 0.67 to 0.735 kg/l in its European naphtha assessments from Nov. 1 | S&P Global Commodity Insights

Platts assessments for naphtha cargoes CIF NWE (PAAAL00), naphtha cargoes FOB Med (PAAAI00), naphtha cargoes CIF Med (PAAAH00) and naphtha barges FOB Rotterdam (PAAAM00) now reflect open specification material with a minimum 65% paraffin content and a typical density range of 0.67 to 0.735 kg/l. Other qualities may be taken into account when traded, but these would be normalized to Platts specifications in line with existing methodology.

For details of Platts European naphtha methodology and reflected specifications including RVP, mercury levels, oxygenate content and chloride limit, please refer to the online methodology guide, available here.

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