The publication of independent, outright assessments for the Middle East is timely as there has been a substantial increase in over-the-counter trading of Middle East oil product derivatives, driven mainly by hedging activity. With this in mind, Platts will begin to publish independent, outright assessments on a free-on-board Fujairah basis for 95 RON gasoline;10 parts per million sulfur gasoil, and 500 ppm gasoil; jet fuel; and 380-centistoke fuel oil from October 3.
The launch of the new assessments will not affect netback values, and Platts has no plans to change or discontinue the netbacks. Calvin Lee, editorial director for oil markets in Asia and the Middle East, and Gurdeep Singh, price group senior specialist, elaborate further in this video.
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Subscriber note in full: Platts plans new Middle East oil assessments from Oct 3