Platts European Clean Refined Market on Close incrementability changes March 16

Platts, part of S&P Global Energy, has changed the increment ability guidelines to allow bids and offers in the March 16, 2026, European Clean Refined products (physical and derivatives) Platts Market on Close assessment process to change by up to $2/metric ton every 20 seconds.

This is as opposed to the typical $1/metric ton every 20 second, and is applicable for the March 16 MOC only.

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 the March 16, 2026, LPG coasters, barges and cargoes MOC 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 applicable for the March 16 MOC only.

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 MOC 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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