Platts proposes to introduce MOC timing, increments guidelines for West Africa Refined Products assessments

Platts, part of S&P Global Energy, proposes introducing timing and increment guidelines for its West Africa Refined Products Market on Close assessment process, effective April 23, 2026, to align with existing MOC practices for Platts European Refined Oil Products assessments.

The timing and increment guidelines will apply to all firm bids or offers reported directly to Platts for publication in Platts West Africa gasoline, diesel and jet MOC processes.

Timing and increment guidelines are a key component of Platts assessment methodology, essential to an orderly and transparent publishing process.

When determining a final market assessment, Platts gives the highest priority to fully verifiable and transparent market information from entities that have been reviewed for participation in the MOC.

MOC timing, increments:

To ensure sufficient time for all market information to be tested, participants should submit any firm bids and offers with complete information to Platts price reporters by phone, instant messenger or email before 3:45 pm London time.

Counterparties may improve the price of their published bids or offers every 1 minute, by a minimum increment of 25 cents/mt and a maximum increment of $1/mt.

No price change will be allowed in the final five minutes of the MOC that concludes at 4:30 pm London time.

Participants may withdraw their bids or offers at any time during the MOC process by communicating that to the Platts editorial team, so long as interest to trade against the published bid or offer has not already been received by Platts.

Participants must clearly communicate their expression of interest to trade a published bid or offer to Platts editors, and counterparties are expected to promptly report resultant confirmed trade to Platts.

Participants who have submitted a firm bid or offer to Platts for publishing in the MOC process are expected to remain contactable at all times prior to the close at 4:30 pm London time, unless the submitted firm bid or offer has been withdrawn.

Bids or offers that are traded in the MOC process may be repeated at the same or less competitive price; participants will have two minutes to do so following the initial expression of interest to trade.

All previously submitted firm bids or offers which have not been traded away will be withdrawn at the close of 4:30 pm London time.

Platts may adjust its timing and increment guidelines in the event of market volatility or a disruptive event.

The timing guidelines that will apply are listed in the table below:

MOC participation review:

Platts applies objective criteria to review entities that wish to participate in the reviewed MOC and monitors all MOC participants to ensure that input data provided by these entities reflect typical market trading practices and standards.

For more information on the counterparty review process, please refer to MOC Participation Guidelines, available here .

Entities that wish to participate in the MOC process can contact market_integrity_review@spglobal.com .

Details of Platts Oil Timing and Increment Guidelines can be found here: oil-timing-increment-guidelines.pdf .

Please send all feedback, comments and questions by March 25 to Europe_products@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.