Platts clarifies publishing guidelines for Direct, Confirmed Data reported in FOB Arab Gulf (Inside Strait) clean refined oil products markets

Platts, part of S&P Global Energy, clarifies its publishing guidelines for participants wishing to report bids or offers as Direct, Confirmed Data in its FOB Arab Gulf (Inside Strait) clean refined oil products assessment process, covering naphtha, gasoline, gasoil and jet fuel.

Transparency underpins Platts assessment process, just as it does Platts data publishing processes. When determining a final market assessment, Platts gives the greatest priority to fully verifiable and transparent market information.

In the FOB Arab Gulf (Inside Strait) clean refined oil products markets, Platts may publish bids or offers as Direct, Confirmed Data, provided they are open to the wider market and actionable. Such firm bids or offers published by Platts as Direct, Confirmed Data must include typical terms relevant to the commodity, including timing and quantity. Bids, offers and expressions of interest to trade may be submitted on a named or unnamed basis.

Direct, Confirmed Data will be available on the real-time Platts Global Alert page 190 and S&P Global Energy Core.

Examples of Direct, Confirmed Data

Named example:

Platts Naphtha: FOB Arab Gulf (Inside Strait): 20-40 days: 25,000-75,000 metric tons: ABC Oil Ltd. reports bid at a discount of $100/mt to MOPAG.

Unnamed example:

Platts Naphtha: FOB Arab Gulf (Inside Strait): 20-40 days: 25,000-75,000 mt: Company A reports offer at a discount of $30/mt to MOPAG.

Firm bids and offers published as Direct, Confirmed Data are subject to the same timing and increment guidelines for Middle East Refined Oil Products, available here, including updates here.

Details of the Platts Asia and Middle East Refined Oil Products assessment methodology can be found here.

Please send all feedback, comments and 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.