Refined Products, Diesel-Gasoil, Jet Fuel

December 28, 2023

Platts to update 2024 European jet, USLD, gasoil netback and net-forward assessment formulae effective Jan 2

Platts, part of S&P Global Commodity Insights, will update the formulae to derive its netback and net-forward assessments to reflect updated Worldscale freight rates for 2024.

The netback for ULSD 10ppmS FOB Med Cargo (AAWYY00) has been updated from the previously published value of $7.30/mt announced in a subscriber note on Dec. 19 here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/121923-methodology-platts-to-update-2024-european-jet-usld-and-gasoil-netback-and-net-forward-assessment-formulae-effective-jan- to $7.33/mt following Worldscale Circular number 6 effective Jan. 1, 2024.

The updates are effective Jan. 2, 2024, across the following Platts price assessments for the Europe and Africa region.

Effective Jan. 2, 2024, the following formulae apply:

Diesel:

Assessment Name 2024 netback/net-forward formula
ULSD 10ppmS FOB NWE Cargo (AAVBF00) $5.38/mt
ULSD 10ppmS FOB NWE Basis Le Havre Cargo (AAWZD00) $6.61/mt
ULSD 10ppmS CIF NWE Basis Le Havre cargoes (AAWZC00) $1.18/mt
ULSD 10ppmS FOB Med Cargo (AAWYY00) $7.33/mt

Gasoil:

Assessment Name 2024 netback/net-forward formula
Gasoil 0.1%S FOB NWE Cargo (AAYWR00) $7.70/mt
Gasoil 0.1%S FOB Med Cargo (AAVJI00) $6.77/mt

Jet Fuel:

Assessment Name 2024 netback/net-forward formula
Jet FOB Med Cargo (AAIDL00) 2024 WS rate for Augusta-Rotterdam, inclusive of Rotterdam port fees

Please send any questions or comments to Europe_products@spglobal.com with a cc to pricegroup@spglobal.com.