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Platts proposes change to LSR naphtha laycan and delivery basis

S&P Global Platts is proposing to change its US Gulf Coast light straight run naphtha assessment specification relating to laycan and delivery basis with effect from February 3, 2020.

Platts understands that the LSR naphtha market has evolved in recent years to reflect more prompt laycans as well as a shift in trading basis from loading to delivering. Platts proposes to update its assessment to reflect these points.

ASSESSMENT DELIVERY BASIS:

Platts is proposing to change the assessed delivery basis for USGC LSR naphtha barges to a DAP basis based on feedback from market sources. The current methodology reflects an FOB basis.

ASSESSMENT LAYCAN:

In addition, Platts is proposing to change the assessed laycan of its LSR naphtha barge assessments to three-15 days forward compared with 10-30 days forward currently. Any bids, offers or trades outside of the assessed specifications or laycans may be normalized for assessment purposes.

Please send all comments, feedback and questions by January 10, 2020, to oilgroup@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.