Platts launches new FOB Arab Gulf (Inside Strait) spot differential assessments April 1, maintains existing FOB Arab Gulf differentials

Platts, part of S&P Global Energy, has launched nine new FOB Arab Gulf (Inside Strait) spot differential assessments for clean refined products -- including naphtha, gasoline, gasoil and jet fuel -- effective April 1, 2026, amid continued disruption to shipping operations through the Strait of Hormuz.

Platts has also maintained its existing suite of FOB Arab Gulf differential assessments to reflect loadings outside of the Strait of Hormuz.

The above follows market feedback to a consultation published March 20, which sought immediate feedback on the deliverability of clean refined products loading at Middle East ports outside the Strait of Hormuz, as well as on the FOB AG spot differential assessment methodology approach in the event of sustained disruption to loading operations outside the strait. The changes follow market feedback gathered around differences in market values between refined products traded for loading inside the Strait of Hormuz relative to outside the Strait of Hormuz.

Platts continues to consult on the underlying methodology for the existing FOB Arab Gulf differentials, including methodology approaches in the event of further market disruption.

FOB Arab Gulf (Inside Strait) spot differential assessments

Effective April 1, Platts has launched nine new daily FOB Arab Gulf (Inside Strait) spot differential assessments for naphtha, gasoline, jet/kerosene and gasoil, as well as their respective monthly averages. These assessments are published as spot market premiums/discounts to Platts' established benchmark MOPAG netback assessments, and reflect the value of cargoes for loading 20-40 days forward from the date of publication.

In the absence of observable market activity for cargoes loading from Inside Strait ports, Platts may default to using editorial judgment based on all available information, including reference to historical assessments and spreads.

The new FOB Arab Gulf (Inside Strait) assessments reflect the same specifications and terms as the existing FOB Arab Gulf differentials.

These assessments are intended to support market participants in valuing cargoes currently stored within Inside Strait terminals and provide an interim reference point for parties engaged in extended long-term contract negotiations.

New FOB Arab Gulf (Inside Strait) spot differential assessments

Existing FOB Arab Gulf spot differentials

The existing suite of FOB Arab Gulf spot differential assessments for naphtha, gasoline, gasoil and jet fuel reflects loadings at safe ports in the Gulf of Oman, including Fujairah, Sohar and Duqm. These assessments maintain their current specifications and terms, and continue to represent tradable levels of the marginal barrel outside the Strait of Hormuz.

Platts continues to seek feedback on the March 20 consultation and may look at data from related markets when no direct market data is observed.

Existing Platts FOB Arab Gulf spot differentials

TIME STAMP: All price assessments reflect the tradable value of these markets at 12:30 pm Dubai time. This time stamp aligns the new assessments with the respective netback values that Platts already publishes in the Middle East, corresponding to the 4:30 pm market on close time stamp in Singapore.

MOPAG NETBACKS: Platts Arab Gulf netback assessments (MOPAG) for the Middle East derive their values from the price assessments at the regional trading hub of Singapore (and Japan for naphtha) after adjusting for shipping costs. The launch of the new FOB Arab Gulf (Inside Strait) differential assessments does not affect these netback values, which Platts is committed to continuing to publish.

The new FOB Arab Gulf (Inside Strait) assessments appear in the Platts Asia Pacific/Arab Gulf Marketscan and on Platts Global Alert pages 2004, 2018, 2302, 2304, 2320, 2402, 2420 and 2404. The monthly averages appear on Platts Global Alert pages 2005, 2019, 2303, 2305, 2321, 2403, 2405 and 2421.

Please send any feedback or questions to asia_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.