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Platts to make announcement related to FOB Arab Gulf netback assessments May 18

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.

Please send all comments, feedback and questions to asia_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.