Platts price assessment processes for oil and petroleum-related products in the Americas currently reflect a closing value at 3:15 p.m. Eastern time. On Jan. 26, 2016, Platts, by subscriber note, opened formal engagement and consultations with the energy industry regarding its Americas closing time. Platts routinely reviews its price assessment processes to ensure they evolve as necessary with the marketplace. There are some views that the increasingly global nature of markets and liquidity shifts might favor an earlier timestamp for the Americas markets. Jonty Rushforth, global editorial director, oil and shipping price group, talks with Richard Swann, director of US oil markets, about the history of the Platts Market On Close price assessment process in the Americas and recent market evolutions.
View the subscriber note details here.