Platts to publish last February 2023 Cash BFOE value on Dec. 30

Platts, part of S&P Global Commodity Insights, would like to clarify that the February 2023 Cash BFOE assessment will be published for the last time on Dec. 30.

The first assessment in which March 2023 is M1 Cash BFOE will be published on Jan. 3, 2023, the first publishing day of 2023.

Platts Cash BFOE assessments typically coincide with the equivalent month of ICE Brent Futures.

However, ICE Brent futures for February 2023 are due to expire at 1930 GMT on Dec. 29, rather than the last business day of the month -- Dec. 30.

Platts will be publishing intraday Cash BFOE assessments at 10.30 am, 12.30 pm, 2.30 pm and 7.30 pm London time on Dec. 29 as usual to ensure consistency with Platts methodology, and to provide as much information as possible on the value of Cash BFOE to subscribers.

These intraday assessments will be available under their usual codes, on PGA page 1216, PCR page 1216 and in the Crude Oil Marketwire.

However, in line with existing methodology, Platts will continue to publish an assessment for February 2023 Cash BFOE on Dec. 30.

Please note that all European oil assessments will be basis 12.30 pm London time Dec. 30, with all cut-offs and timings commensurate with a close at that time.

That will include Platts Dated Brent and Cash BFOE M1, M2 and M3.

On Dec. 30, Platts will publish one intraday assessment at 10.30 am London time, which will be available under its normal code, on PGA page 1216, PCR page 1216 and in the Crude Oil Marketwire.

No later intraday assessments will be published on Dec. 30.

Platts understands that fallback day will occur Dec. 28, the day before the expiry of the February ICE Brent futures contract, in line with typical market norms.

Since the settlement period of the July 2020 Cash BFOE contract, Platts only publishes bids and offers for full 600,000 barrel Cash BFOE cargoes or spreads for M1 on fallback day and expiry day.

Further information on this can be found here:

https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/050120-platts-reflects-cash-bfoe-partial-contracts-which-settle-on-fallback-day

Please send all questions and comments to Europe_crude@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.