Platts European Clean Refined Market on Close incrementability changes

Platts, part of S&P Global Energy, is changing the incrementability guidelines to allow bids and offers for European Clean Refined products (physical and derivatives) to rise by up to $2/metric ton every 20 seconds. This measure is effective March 11, 2026.

This is as opposed to the typical $1/mt every 20 seconds.

Within middle distillates, these changes apply to the Platts CIF NWE ULSD cargoes, Platts CIF Med ULSD cargoes, Platts FOB ARA ULSD cargoes, Platts CIF NWE jet fuel cargoes, Platts FOB FARAG jet fuel barges, Platts FOB ARA ULSD barges, Platts FOB ARA 0.1% gasoil barges, Platts FOB ARA 50ppm gasoil barges and all related Platts European middle distillates derivatives assessments.

Within light-ends, these changes apply to the Platts FOB Med gasoline cargoes, Platts NWE gasoline barges and cargoes, Platts CIF NWE naphtha cargoes, and all related Platts European gasoline and naphtha derivatives assessments.

Platts is also changing the incrementability guidelines for LPG coasters, barges and cargoes to increase and decrease by up to $2/mt every 60 seconds, opposed to the typical $1/mt every 60 seconds, and to 0.50% every 60 seconds when pricing at a percentage of CIF NWE naphtha, as opposed to the typical 0.25% every 60 seconds. This measure is effective March 11, 2026.

The temporary change for European clean refined products reflects current high volatility in the market due to ship transit issues via the Strait of Hormuz.

The standard timing and increments for the Oil Platts Market on Close assessment process can be found here.

Platts reserves the right to change incrementability guidelines in the MOC throughout the day depending on evolving market conditions.

Please send all feedback, comments and questions to PL_Middisteurope@spglobal.com, PL_LightendsEurope@spglobal.com, and pricegroup@spglobal.com.

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