S&P Global Platts will publish on May 18, 2020, at 2:00 pm Singapore time (0600 GMT) an update to its market consultation process to review the methodology for its Middle East netback assessments for gasoline, naphtha, gasoil, jet fuel/kerosene and fuel oil that are published on an FOB Arab Gulf basis.
In light of recent sharp declines in refined oil product prices and a surge in freight rates, Platts has opened a consultation process to review the methodology for its Middle East netback assessments in a subscriber note published May 4: http://plts.co/g2nc30qFzok.
Platts currently assesses the benchmark Middle East netback prices for gasoline, gasoil, jet fuel/kerosene and fuel oil by deducting relevant freight costs from respective FOB Singapore assessments and for naphtha by deducting freight from C+F Japan assessments.
Details of the assessment methodology and netback calculations can be found at: http://plts.co/N5hJ30qCT0D.
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