Clarification note: Singapore gasoil sulfur spread swap fixed at $1.02/b

As previously announced, Platts is fixing a spread reflecting the relationship between the notional Singapore 0.5% sulfur gasoil swaps and the 500 ppm sulfur gasoil swaps from December 15 for the remainder of 2012. This spread has been fixed at $1.02/barrel. Platts will reflect 0.5% sulfur gasoil in its Mean of Platts Singapore Gasoil Strip only to the end of December 2012. Cash differentials for gasoil 0.5%, 0.25%, 500 ppm, 50 ppm and 10 ppm gasoil against MOPS Gasoil will be basis gasoil 0.5% throughout this period as well. Platts will continue to publish a separate MOPS Gasoil 500 ppm Strip reflecting 500 ppm sulfur gasoil and associated cash differentials to the end of 2012. In 2013, this strip will be published under the name MOPS Singapore Gasoil Strip. Platts will not publish any assessments reflecting 0.5% sulfur gasoil cargoes from January 2, 2013. Therefore, for the purposes of assessing the MOPS Gasoil Strip and associated cash differentials in the remainder of December, Platts will derive notional 0.5% sulfur gasoil swaps for January and February using a spread of $1.02/b against 500 ppm sulfur gasoil swaps. In November 2011, Platts announced plans to lower the sulfur specification of its flagship Singapore Gasoil assessment to 500 ppm from the current 0.5% (5,000 ppm) effective January 2, 2013. At the same time, Platts announced plans to lower the sulfur specification of its flagship Arab Gulf Gasoil netback assessment, and all other current 5,000 ppm gasoil cargo assessments, to 500 ppm concurrently. The lower sulfur specifications reflect changing supply and demand trends across the regions. Please send all feedback and comments to asia_products@platts.com and pricegroup@platts.com