European Marketscan: European Products ($/MT) ICE Futures
European Marketscan: European Products ($/MT) ICE Futures
FOB NWE CIF NWE/Basis ARA ICE gasoil settlements (PGA page 702)
Naphtha (Feb) PAAAJ00 941.75–942.25 942.000 -1.750
Gasoil Low Sulfur Gasoil
Naphtha PAAAL00 946.00–946.50 946.250 -1.500
Gasoline 10ppm AAXFQ00 1030.00–1030.50 1030.250 +2.250 Feb AAQSG00 976.00 Feb AAGS001 986.00
Jet PJAAV00 1040.00–1040.50 1040.250 +2.250 PJAAU00 1057.00–1057.50 1057.250 +2.250 Mar AAQSH00 968.25 Mar AAGS002 986.50
ULSD 10 ppm AAVBF00 965.50–966.00 965.750 +4.750 AAVBG00 987.50–988.00 987.750 +4.750 Apr AAQSI00 960.50 Apr AAGS003 983.50
Diesel 10ppm NWE AAWZD00 969.00–969.50 969.250 +4.750 AAWZC00 991.50–992.00 991.750 +4.750 May AAQSJ00 953.25 May AAGS004 980.00
Diesel 10 ppm UK AAVBH00 993.75–994.25 994.000 +4.750 Jun AAQSK00 947.25 Jun AAGS005 974.00
Gasoil 0.1% AAYWR00 954.25–954.75 954.500 +6.250 AAYWS00 978.50–979.00 978.750 +6.250 Jul AAQSL00 943.25 Jul AAGS006 970.00
Fuel oil 1.0% PUAAM00 651.25–651.75 651.500 +7.750 PUAAL00 663.25–663.75 663.500 +8.750
Expiry AAQSM00 NA*
Fuel oil 3.5% PUABB00 597.25–597.75 597.500 +3.250 PUABA00 611.75–612.25 612.000 +4.500
Straight run 0.5-0.7% PKABA00 746.00–747.00 746.500 +7.000 *Value at 12:00 London time will only appear on day of expiry
VGO 0.5-0.6% AAHMX00 801.50–802.50 802.000 +6.500 AAHMZ00 804.50–805.50 805.000 +6.500 ICE gasoil GWAVE (Previous day’s values) (PGA page 702)
VGO 2% max AAHNB00 795.00–796.00 795.500 +7.500 AAHND00 798.00–799.00 798.500 +7.500
Feb PXAAJ00 968.75 Mar PXAAK00 960.75
Northwest Europe barges (PGA page 1112)
FOB Rotterdam Jet crack swap ($) NYMEX futures (16:30 London time)
Naphtha PAAAM00 942.00–942.50 942.250 -1.500
Eurobob AAQZV00 1016.00–1016.50 1016.250 +3.250 23 NYMEX WTI (PGA page 703)
98 RON gasoline 10 ppm AAKOD00 1058.75–1059.25 1059.000 +8.000
Premium gasoline 10 ppm PGABM00 1038.75–1039.25 1039.000 +8.000 $/barrel $/barrel
Jet PJABA00 1049.75–1050.25 1050.000 +5.250 Mar AASCR00 96.44 Apr AASCS00 96.92
Diesel 10 ppm AAJUS00 984.00–984.50 984.250 +4.500
NYMEX heating oil (PGA page 703)
Gasoil 50 ppm AAUQC00 980.50–981.00 980.750 +4.250 21
Gasoil 0.1% AAYWT00 976.25–976.75 976.500 +6.000 ¢/gal ¢/gal
Fuel oil 1.0% PUAAP00 642.75–643.25 643.000 +4.500 Feb AASCT00 309.34 Mar AASCU00 308.29
Fuel oil 3.5% PUABC00 616.00–616.50 616.250 +4.500
Rotterdam bunker 380 CST PUAYW00 620.00–621.00 620.500 +4.000 NYMEX RBOB (unleaded gasoline) (PGA page 703)
VGO 0.5-0.6% AAHNF00 801.50–802.50 802.000 +6.500 19 ¢/gal ¢/gal
VGO 2% max AAHNI00 795.00–796.00 795.500 +7.500 Mar May Jul Sep Nov Jan
MTBE* PHALA00 1249.75–1250.25 1250.000 -4.000 Feb AASCV00 285.30 Mar AASCW00 286.97
*FOB Amsterdam-Rotterdam-Antwerp
Market Update (PGA page 724) Euro-denominated assessments 16:30 London (€/mt)
NYMEX February RBOB in early afternoon trade Thursday Med cargoes (PGA page 1120) Northwest Europe barges (PGA page 1118)
held on to gains seen in the wake of the US Energy FOB Med CIF Med FOB Rotterdam
(Italy) (Genova/Lavera) Naphtha ABWHF00 704.223
Information Administration’s weekly oil inventories data. Naphtha* ABWHE00 681.988 ABWHD00 698.430 Eurobob ABWGT00 759.529
The February RBOB contract was 2.62 cents higher at Prem Unl 10ppm ABWGV00 780.456 ABWGU00 791.293 98 RON gasoline 10 ppm ABWGX00 791.480
Jet ABWGZ00 768.498 AAZBO00 789.051 Premium gasoline 10 ppm AAQCH00 776.532
$2.8600/gal after climbing from an earlier session high 10ppm ULSD ABWHM00 731.502 ABWHH00 744.395 Jet ABWHC00 784.753
of $2.8581/gal immediately following the 11 a.m. EST Gasoil 0.1% ABWGQ00 720.478 ABWGO00 735.426 Diesel 10 ppm AAQCI00 735.613
Fuel Oil 1.0% ABWGH00 493.087 ABWGF00 504.111 Gasoil 50 ppm AAUQF00 732.997
(1600 GMT) data release. The EIA data showed a 1.738
Fuel oil 3.5% ABWGM00 454.596 ABWGK00 465.620 Gasoil 0.1% AAYWY00 729.821
million-barrel drop in domestic gasoline stocks. The EIA Jet FOB Med premium ABWHA00 7.848 Fuel oil 1.0% ABWGI00 480.568
data showed gasoline stocks at 233.257 million barrels, *Naphtha FOB Med is basis East Med Fuel oil 3.5% AAQCK00 460.575
Rotterdam bunker 380 CST AAUHE00 463.752
with Atlantic Coast gasoline stocks 494,000 barrels Northwest Europe cargoes (PGA page 1116)
higher at 53.948 million barrels. Despite the gain, US FOB NWE CIF NWE/ New York Harbor cargoes 16:30 London (PGA pages 1350 & 1450)
Atlantic Coast gasoline stocks remain 11.25% below the Basis ARA FOB NY Harbor
Naphtha AAQCE00 707.212 (€ cent/gal)
EIA five-year average. The Atlantic Coast is the home of Gasoline 10ppm ABWGS00 769.993 Unleaded 87 AAPYV00 215.09
the New York Harbor-delivered RBOB futures contract. Jet ABWHB00 777.466 AAQCF00 790.172 Unleaded 89 AAPYW00 223.75
NYMEX crude futures fell throughout early afternoon ULSD 10 ppm ABWHO00 724.402 ABWHI00 741.218 Unleaded 93 AAPYX00 236.76
Diesel 10ppm NWE ABWHP00 721.786 ABWHK00 738.229 No. 2 AAPYY00 232.50
trade after peaking at $96.68/b shortly after the EIA Diesel 10 ppm UK ABWHJ00 742.900
data release. The March contract was 87 cents higher Gasoil 0.1% ABWGR00 713.378 ABWGP00 731.502
Fuel oil 1.0% AAQCG00 486.921 ABWGG00 495.889
than Wednesday’s close at $96.10/b, hovering close to Fuel oil 3.5% ABWGN00 446.562 ABWGL00 457.399
European clean product barge freight rates
the NYMEX open of $96.11/b. “WTI crude oil has been Straight run 0.5-0.7% ABWHG00 557.922
ARA ($/mt) (PGT page 1918)
today’s roller-coaster, first losing ground on concerns Euro/US$ forex rate: 1.3380. Platts Euro denominated European & US product
Rotterdam — Rotterdam TCAEI00 2.00
assessments are based on market values and a Euro/US$ forex rate at 4:30
that the supply glut at Cushing will not be reduced at the PM local London time. Rotterdam — Flushing TCAEJ00 3.00
Rotterdam — Ghent TCAEK00 3.50
speed previously thought and later bouncing on the back
Rotterdam — Antwerp TCAEL00 3.00
of better US initial claims numbers,” Ole Hansen, head Foreign exchange rates (PGA page 1151) Germany ($/mt) (PGT page 1918)
of commodity strategy at Saxo Bank, said in a note. January 24, 2013 London 16:30 Rotterdam — Duisburg TCAEM00 6.75
Dollar/Swiss franc BCADC00 0.9293 Rotterdam — Cologne TCAEN00 10.00
GB pound/Dollar BCADB00 1.5783 Rotterdam — Karlsruhe TCAEO00 15.25
Gasoline (PGA page 1399) Dollar/Yen BCACW00 89.9400 Antwerp — Duisburg TCAEP00 7.25
Euro/Dollar BCADD00 1.3380 Switzerland ($/mt) (PGT page 1918)
The recent backwardation in the Northwest Europe Dollar/Ruble AAUJO00 30.0510 Rotterdam — Basel TCAEQ00 16.00
gasoline market proved short-lived with the February-
March spread assessed at flat at Thursday’s European mt, Platts data showed. As a result of the bullish turn mt, down $1/mt on-the-week. However, the Eurobob
close, Platts data showed. The backwardation, first in the Eurobob market earlier this week, the arbitrage market remained fundamentally strong due to a healthy
present in the market since Tuesday’s European close, opportunity to the USAC had closed, the trader said. gasoline blending market in the Amsterdam-Rotterdam-
faded as a recent arbitrage from the region to the US “Cash premiums in New York harbour are at discounts Antwerp trading hub, a second trader said. Blending
Atlantic Coast had now closed, traders said. “EBOB has to the front month NYMEX RBOB contract,” he said, was active in ARA to meet strong demand into the the
moved really quickly...When people see an arbitrage adding that they were last seen pegged at a 170-140 Mediterranean and West Africa markets, he said. As a
open to the US they buy up the barges.” At Thursday’s cents/gal discount to the February RBOB contract result of high FOB Mediterranean prices, it made more
European close, the February FOB Rotterdam EBOB Wedneday. By comparison, cash premiums for Eurobob sense to send West African blends from Northwest
gasoline crack swap was assessed at $9.10/barrel, barges had been at a single digit premium to the front Europe, the first trader said, another factor lending
broadly unchanged from Wednesday. The February-March month swap since Tuesday’s European close, a second support to the Eurobob market. Also, a third trader said
FOB Rotterdam EBOB swap spread was assessed at trade source said. He also said the NWE-USAC February that a total volume of around 35,000/mt gasoline had
flat, down from Wednesday’s backwardation of $2.25/ arbitrage swap had fallen significantly to minus $3.50/ been moving from NWE, the US Gulf Coast and the
Baltics into the West African market on a daily basis. Subscriber notes (PGA page 1500)
Winter 5-9 Feb cif basis Eleusis, feb ipe plus $4.00, refinery in Sardinia has started maintenance to a traders, with higher VLCC rates and subdued demand
euromed neobig +Tunisia+Egypt med +algeria+ other visbreaker, a vacuum distillation unit and an alkylation ahead of the Lunar New Year partly to blame. “The arb
cp options vailable/obtainable at cost, ENI&BP&Totsa unit, while a CDU and a hydrocraker are also down at East is shut. VLCC rates are too high” a trader said.
acceptable vessel. Cepsa’s Huelva refinery until early February, according to Platts assessed dirty VLCC rates on the Rotterdam-
the plants’ operators. In addition, Galp’s Sines refinery Singapore route Thursday at a $4 million lump sum. In
Diesel (PGA page 1498)
still does not export any diesel following heavy upgrades the Mediterranean, continued stormy weather prohibited
at the plant while a trader said Hellenic’s Elefsis refinery some bunkering operations, as well as deliveries,
Ultra low sulfur diesel barge prices fell once again had an issue with a flexicocker, which curtailed its diesel with the ports of Malta and Gibraltar among the worst
Thursday as Northwest European refineries continued production. Galp confirmed the cracker was ramping up affected. Meanwhile, recent bad weather in the Black
to churn products amid improved refinery margins, and Hellenic declined to comment last week. sea was also causing problems for refiners. “All the
despite the low temperatures of the last few days in delays on the Black Sea are causing problems to some
Europe, said traders. The Northwest European barge Diesel deals (PGA page 5)
refineries, a few are running short of crude,” a trader
premium was assessed at February ICE 0.1% gasoil said. Nevertheless, traders said the Med market was
plus $8.25/mt FOB Rotterdam, down $1.25 on-day and n ULSD MOC barge deals: Glencore-Vitol Feb +8 ARA, well supplied with fuel oil, while demand remained
at its lowest level since May last year. In the Platts 29 Jan-02 Feb, 2kt; BP-Vitol Feb +8 ARA, 29 Jan-02 Feb, steady. In other news, a CDU and hydrocracker at
Market on Close assessment process, Vitol bought eight 2kt; STR-Vitol Feb +8 AR, Jan 29-02 Feb, 2kt; Totsa-Vitol the 190,000 b/d Cepsa owned Huelva refinery were
barges from Glencore, BP, STR and Total at slightly Feb +8 FARA, Jan 29-02 Feb, 2kt; BP-Vitol Feb +8 ARA, currently down for maintenance until mid-February,
lower prices than Wednesday. “I am surprised at the 29 Jan-02 Feb, 2kt; BP-Vitol Feb +9 ARA, 1-5 Feb, 2kt; sources said. Meanwhile in the Northwest European low
recent weakness in price...temperatures are freezing in BP-Vitol Feb +9 ARA, 4-8 Feb, 3kt; BP-Vitol Feb +9 ARA, sulfur fuel oil market Thursday, FOB NWE 1% cargoes
Europe and stocks were low in December. Imports are 1-5 Feb, 2kt. rose to minus $1.50/mt against front-month swaps,
also not massive,” said one trader. Traders continued from minus $2.50/mt the previous day. With a weak
to present the picture of a two-tier market in the north n ULSD MOC cargo deals: No deals reported. barge/cargo spread, down to minus $8.50/mt, and
and south of Europe. In Northwest Europe, refinery many traders with full tanks, it was proving hard to
margins were said to be higher than at the start of Fuel oil (PGA page 1599)
shift LSFO cargoes according to some, resulting in the
the month, and, with the current wide backwardation sustained physical contango structure at the front end.
on ICE gasoil futures, traders said this encourages The European high sulfur fuel oil market weakened While the European LSFO market was boosted earlier
refineries to produce diesel and sell it to market as Thursday amid a lack of arbitrage opportunities, but in January by an open arbitrage to Asia, now such
soon as possible. In the Mediterranean, however, more despite loading delays at the Rotterdam STR terminal, opportunities were scarce, said traders, as Singapore
units were under maintenance and, with lower margins a five-month low in Singapore inventories and as data had met its short-term 1% bunker needs. Japanese
than in Northwest Europe, runs were lower overall, said showed Chinese fuel oil imports jumped 23.5% month- demand for (LSFO) was also fading, said traders, as
traders. This, in turn, meant diesel was harder to come on-month in December. FOB Rotterdam 3.5% sulfur buyers had reportedly bought their February cargoes
by. Mediterranean cargoes were assessed at February barges were assessed at a $0.25/mt discount to the already, and winter demand season was coming to an
ICE 0.1% gasoil plus $20/mt CIF Lavera, down 75 cents February swap, down from Wednesday’s $2.25/mt end. Stocks of low sulfur C-type fuel oil rose 118,644
from Tuesday and at a $8.25/mt premium to Northwest premium. Loading delays at the STR Terminal persisted barrels to 4.28 million b for the week ending January
European cargoes, which were at February ICE 0.1% Thursday, according to one source. A spokesman at 19, according to the Petroleum Association of Japan.
gasoil plus $11.75/mt CIF ARA. The Mediterranean STR declined to comment. In Asia, Singapore fuel However Japan’s total fuel oil stocks are still below the
cargo assessment was lowered in line with an offer from oil inventories plunged to a five-month low at 17.6 previous five year range. While LSFO demand seemed
Gunvor at February ICE 0.1% gasoil plus $20.50/mt. million/barrels, the Ministry of Trade and Industry data slack in NWE, said traders, supply also was not at
“Demand in the East Med is stable, but there are not showed. At the same time, a separate data release particularly high levels. “Brazil is using quite a bit of
many US cargoes coming as the arbitrage is shut,” said showed Chinese imports grew 23.5% month-on-month in LSFO due to lower hydropower usage, so less coming
one trader. “The increase in margins still isn’t enough... December following higher refinery run rates. However, to Europe,” one trader said. Traders described fairly
refineries are running at minimum rates.” Sara’s Sarroch arbitrage opportunities had waned in recent weeks, said constant utility demand in the Mediterranean. “I don’t
see demand changing that much, even with colder is there, but we are not seeing a lot of volume available, Brent was assessed up day-on-day, Platts data showed.
weather,” said the trader. “The biggest demand shift will or prices on offers are too high,” said one refinery Some traders said that Forties remained attractive for
be the ECA coming in 2015”. feedstocks buyer. “VGO is a little bit short”. However European refiners, relative to sourer grades. “Margins
demand from Spanish refiners, usually a mainstay of are still not good, but for Forties compared to Urals they
Fuel Oil deals (PGA page 5)
European HSVGO buying, remained low, said traders. are very good. There is a limit of course. If Forties gets
“We haven’t been buying too much as we’ve been at $0.20-0.30/b more expensive than it is then it won’t
n LSFO barge MOC deal summary: 1) Chemoil-Vitol high runs for a while, which means we produce our own be good for refiners anymore,” a trader said. Other
$645/mt, 1kt, FOB Rdam, FE; 2) BP-Mercuria $647/ streams,” said a source close to Cepsa. BP’s Castellon North Sea grades were seeing a more mixed picture
mt, 1kt, FOB Rdam, BE; 3) Chemoil-Mercuria $647/mt, refinery near Valencia was also absent from the market, than Forties, with differentials for some running into
1kt, FOB Rdam, BE; 4) Mercuria-Vitol $646/mt, 1kt, FOB said traders. Repsol was said to be interested only from resistance. “Oseberg, Ekofisk and Gullfaks are not much
Rdam, FE; 5) BP-Mercuria $647/mt, 1kt, FOB Rdam, MW. February, and pieces of demand were heard in Italy, higher than they were yesterday,” a trader said. “There’s
Turkey and Israel. Buyers had generally secured their not a lot of room in the offer levels. Another trader said
n HSFO barge MOC deal summary: 1) Litasco-Vitol February requirements. “We have January closed and that a weakening in Duc differentials over the course
$614.5/mt, 2kt, FOB Rdam, FE; 2) Litasco-Vitol February partially closed on VGO,” said one Med buyer. of February was likely to continue into March. “Duc is a
$614.5/mt, 2kt, FOB Rdam, MW; 3) Litasco-Vitol Meanwhile FOB NWE low sulfur VGO cargoes and barges bit less than Dated Brent plus $2.20/b now,” a trader
$614.5/mt, 2kt, FOB Rdam, BE; 4) Litasco-Koch were assessed unchanged at a $3.70/b premium said. “Obviously the February program has already been
$614.75/mt, 2kt, FOB Rdam, FE; 5) Litasco-Vitol against ICE March Brent crude futures. sold. Duc was backwardated over the whole month.
$614.5/mt, 2kt, FOB Rdam, FE; 6) Litasco-Koch January was strong, but in February it came off over the
$614.5/mt, 2kt, FOB Rdam, FE; 7) Litasco-Vitol VGO deals (PGA page 5)
whole month.” However, there were signs that grades
$614.5/mt, 2kt, FOB Rdam, FE; 8) Litasco-Vitol were starting to clear, with traders reporting more active
$614.5/mt, 2kt, FOB Rdam, FE; 9) Litasco-Vitol No deals trading over the course of the day. “There has been a
$614.5/mt, 2kt, FOB Rdam, FE; 10) Litasco-Vitol bit of activity, today, yesterday and also two days ago
$614.5/mt, 2kt, FOB Rdam, FE; 11) Litasco-Koch North Sea crude (PGA page 1299)
as well,” a trader said. “It’s starting to look very, very
$614.5/mt, 2kt, FOB Rdam, FE; 12) Litasco-Vitol tight with not much left in February.” Total announced
$614.5/mt, 2kt, FOB Rdam, FE; 13) Litasco-Koch The Forties crude differential to Dated Brent rose further that it was working to restore production from the Elgin-
$615.5/mt, 2kt, FOB Rdam, FE; 14) Gunvor-Koch Thursday, once again buoyed by bidding from Total Franklin field within the first quarter of 2013. The fields,
$615.5/mt, 2kt, FOB Rdam, FE; 15) Litasco-Koch at ever-higher levels. In the Platts Market on Close shut in by a gas blowout in March 2012, can produce
$615.5/mt, 2kt, FOB Rdam, MW; 16) Litasco-Koch assessment process the company was bidding for two up to 280,000 b/d of oil equivalent, of which 175,000
$615.5/mt, 2kt, FOB Rdam, BE; 17) Gunvor-BP cargoes of Forties, loading on February 5-7 and 9-11. b/d is condensate, according to Total. The UK’s Health
$615.5/mt, 2kt, FOB Rdam, BE; 18) Litasco-Mercuria These bids were $0.05/b stronger than Total had bid for and Safety Executive confirmed to Platts that Total had
$616/mt, 2kt, FOB Rdam, BE; 19) Chemoil-Vitol $616/ exactly the same dates Wednesday and with no selling requested permission to restart the field. A Total source
mt, 2kt, FOB Rdam, BE; 20) Chemoil-Vitol $616.5/mt, interest emerging, the Forties differential to Dated said that some Elgin-Franklin production had already
2kt, FOB Rdam, BE; 21) Chemoil-Vitol $616.5/mt, 2kt,
FOB Rdam, BE.
been factored into the February Forties program. “The Asia products
February program contains an Elgin-Franklin provision,” Code Mid Change Code Mid Change
a Total source said. “However it is small for February, Singapore (PGA page 2002)
so if it is not there then it won’t affect the program. FOB Singpore ($/barrel)
Naphtha PAAAP00 107.54–107.58 107.560 +0.040
Meanwhile, Shell entered the Forties parcel F0213, Gasoline 92 unleaded PGAEY00 120.97–121.01 120.990 +0.110
loading February 18-20 into the 10-25 nomination Gasoline 95 unleaded PGAEZ00 124.04–124.08 124.060 +0.230
procedure. The cargo, which was originally Nexen equity, Gasoline 97 unleaded PGAMS00 125.65–125.69 125.670 +0.260
Kerosene PJABF00 129.21–129.25 129.230 +0.400
was kept by Total. F0213 was the first cargo since Gasoil 0.05% sulfur AAFEX00 127.55–127.59 127.570 +0.230
February 11-13 to be chained. Gasoil 0.25% sulfur AACUE00 126.49–126.53 126.510 +0.280
Gasoil POABC00 127.55–127.59 127.570 +0.230
Fuel oil 180 CST 2% ($/mt) PUAXS00 646.17–646.21 646.190 +3.380
LSSR (PGA page 1598) HSFO 180 CST ($/mt) PUADV00 631.84–631.88 631.860 +2.770
HSFO 380 CST ($/mt) PPXDK00 629.50–629.54 629.520 +3.740
In the Northwest European low sulfur straight run market Indonesia (PGA page 2516)
Thursday, FOB NWE LSSR cargoes were assessed up FOB Indonesia ($/barrel)
LSWR Mixed/Cracked PPAPU00 112.26–112.30 112.280 -0.250
$0.10/barrel at a discount of $3.30/b to the March
Gasoline components (PBF page 2010)
ICE Brent crude futures contract, with adequate regional
FOB Singapore ($/mt)
demand from refineries, blenders, and export routes MTBE PHALF00 1171.00–1173.00 1172.000 +2.000
to soak up supply. North Sea barrels were not coming Singapore Swaps (PPA page 2654)
down into the Mediterranean as they had better homes February ($/barrel) March ($/barrel)
available, said traders, but in the Med LSSR was Naphtha Japan ($/mt) AAXFE00 961.75–962.25 962.000 -2.000 AAXFF00 947.00–947.50 947.250 -2.250
Naphtha PAAAQ00 106.23–106.27 106.250 0.000 PAAAR00 104.58–104.62 104.600 -0.050
available from Libya, Tunisia, Algeria, as well as the Black
Gasoline 92 unleaded AAXEL00 120.53–120.57 120.550 +0.350 AAXEM00 119.43–119.47 119.450 +0.350
Sea. “There’s a couple of good qualities from the Black Reforming Spread AAXEO00 14.28/14.32 14.300 +0.350 AAXEP00 14.83/14.87 14.850 +0.400
Sea, and some worse ones,” said one trader. Turkmen Kerosene PJABS00 128.70–128.74 128.720 +0.410 PJABT00 127.91–127.95 127.930 +0.360
Gasoil POAFC00 127.63–127.67 127.650 +0.170 POAFG00 127.47–127.51 127.490 +0.160
LSSR had last traded around Brent minus $8/barrel, he HSFO 180 CST ($/mt) PUAXZ00 636.98–637.02 637.000 +3.250 PUAYF00 640.68–640.72 640.700 +3.700
said. Improving jet, diesel and gasoline cracks over the Middle East (PGA page 2004)
last few weeks have improved crude margins, but this FOB Arab Gulf ($/barrel)
had not lead to a clear reduction in demand for straight Naphtha ($/mt) PAAAA00 937.51–948.01 942.760 +0.215
run as a feedstock, said market sources. “Each refinery Naphtha LR2 ($/mt) AAIDA00 944.93–955.43 950.180 -0.045
Kerosene PJAAA00 126.75–126.79 126.770 +0.400
has different strategies,” said a buyer at one refinery. Gasoil 0.005% sulfur AASGJ00 125.44–125.48 125.460 +0.230
“You can’t switch from one feedstock to another unless Gasoil 0.05% sulfur AAFEZ00 124.94–124.98 124.960 +0.230
Gasoil 0.25% sulfur AACUA00 123.54–123.58 123.560 +0.330
you’re very lucky and the replacement is in front of you”. Gasoil POAAT00 124.94–124.98 124.960 +0.230
The extremely bad weather in the Black Sea, although HSFO 180 CST ($/mt) PUABE00 616.90–616.94 616.920 +2.940
now getting better, had caused delays on crude cargo Japan (PGA page 2006)
deliveries of up to a week, said traders. “All the delays in C+F Japan ($/mt) Premium/Discount
the Black Sea are causing problems to some refineries Naphtha PAAAD00 971.25–981.75 976.500 +0.125
Naphtha MOPJ Strip AAXFH00 940.75–941.25 941.000 -2.750 AAXFI00 35.25/35.75 35.500 +2.870
in finding crude, a few are running short,” said the buyer. Naphtha 2nd 1/2 Mar PAAAE00 991.00–991.50 991.250 +0.250
“We’re doing ok as we have diversified, some of our Naphtha 1st 1/2 Mar PAAAF00 981.25–981.75 981.500 +0.250
Naphtha 2nd 1/2 Apr PAAAG00 971.25–971.75 971.500 0.000
crude comes from Black Sea, some from Mediterranean”.
Gasoline unleaded ($/barrel) PGACW00 123.65–123.69 123.670 +0.100
Kerosene ($/barrel) PJAAN00 131.13–131.17 131.150 +0.260
Gasoil ($/barrel) POABF00 130.46–130.50 130.480 +0.480
LSSR deals (PGA page 5) HSFO 180 CST PUACJ00 644.65–644.69 644.670 +2.610
No deals
Below is a list of the assessments which can be found in Platts Biofuelscan. The assessments which currently appear in European Marketscan are highlighted and will be removed on January 1, 2013. The European
Marketscan will no longer carry market commentaries for ethanol. Current subscribers who would like to continue to receive this information, or who want to know more about the Platts Biofuelscan, should contact Platts
at support@platts.com, biofuels@platts.com or contact an account representative. This note supersedes all previous notes regarding the move of Platts‘ biofuel assessment data and commentary from Platts European
Marketscan to the Platts Biofuelscan.
Ethanol description Oracle Codes Ethanol Key Rack Prices (cents/gal) Oracle Codes Renewable Identification Number (cents/RIN) Oracle Codes
United States (cents/gal) DTN Ethanol Chippewa Falls WI Centex Unb DE312FX Ethanol
Ethanol Chicago (terminal) AALRI00 DTN Ethanol Des Moines IA Cenex Unb DE059FX RIN Calendar-Year (Y-1) RINCY01
Ethanol Chicago (Rule 11) AAVWD00 DTN Ethanol Des Moines IA Flint Hills Unb DE059IF RIN Calendar-Year (Y) RINCY02
Ethanol swap Chicago (M+1) ESCM001 DTN Ethanol Des Moines IA MinnIowa Unb DE059CW Biodiesel
Ethanol swap Chicago (M+2) ESCM002 DTN Ethanol Des Moines IA Western Pet Unb DE059FN RIN Calendar-Year (Y-1) BDRCY01
Ethanol NYH Barge (M1) AAMPF00 DTN Ethanol Grand Forks ND Cenex Unb DE175FX RIN Calendar-Year (Y) BDRCY02
Ethanol NYH Barge (M2) AAUEG00 DTN Ethanol Grand Forks ND Dale Unb DE175AT Advanced biofuel
Ethanol Houston 5-15 Tank AATGJ00 DTN Ethanol Grand Forks ND Flint Hills Unb DE175IF RIN Calendar-Year (Y-1) ABRCY01
Southern California Rail Car (cents/gal) DTN Ethanol Grand Forks ND Western Pet Unb DE175FN RIN Calendar-Year (Y) ABRCY02
Ethanol prompt 7-14 AAMNK00 DTN Ethanol Kansas City KS Flint Hills Unb DE099IF Cellulosic biofuel
Ethanol forward 15-30 AAMNN00 DTN Ethanol Kansas City KS Western Pet Unb DE099FN RIN Calendar-Year (Y-1) CBRCY01
Northern California Rail Car (cents/gal) DTN Ethanol Minn/StPaul MN Flint Hills Unb DE141IF RIN Calendar-Year (Y) CBRCY02
Ethanol Prompt 7-14 AAMFT00 DTN Ethanol Minn/StPaul MN MinnIowa Unb DE141CW
Ethanol Forward 15-30 AAMFZ00 DTN Ethanol Minn/StPaul MN Western Pet Unb DE141FN Notes: M1 = Current month; M2 = Next month; M+1 = Current month +
Brazil Cargo DTN Ethanol Omaha NE Flint Hills Unb DE185IF number of forward days (see methodology guide); M+2 = Current month
Ethanol FOB Santos (cents/gal) AATAE00 DTN Ethanol Omaha NE MinnIowa Unb DE185CW + number of forward days (see methodology guide); Y = Current year ;
Ethanol FOB Santos ($/cu m) AAWFO00 DTN Ethanol Omaha NE Sapp Bros Unb DE185EA Y-1 = Last year
Ethanol FOB Santos (Real/cu m) AAWFP00 DTN Ethanol Omaha NE Western Pet Unb DE185FN
Northwest Europe DTN Ethanol Sioux Falls SD Cenex Unb DE256FX
Ethanol T1 FOB Rdam ($/cu m) AAWUQ00 DTN Ethanol Sioux Falls SD Flint Hills Unb DE256IF
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Ethanol T2 FOB Rdam (Eur/cu m) AAYDT00 DTN Ethanol Sioux Falls SD MinnIowa Unb DE256CW Check out our product page at:
Ethanol T2 FOB Rdam German Spec (Eur/cu m) AAVLD00 DTN Ethanol Sioux Falls SD Western Pet Unb DE256FN http://www.platts.com/Products/biofuelscan/Petrochemicals/ALL/NewsLetterReports
Ethanol T1 CIF NWE Cargo ($/cu m) AAYDS00
Asia Pacific ($/cu m)
Biodiesel description Oracle Codes
Bioethanol FOB Singapore AAWAD00
Bioethanol CIF Philippines AAWAA00 Northwest Europe ($/mt) [BIOFUELS ]
Bioethanol CIF Philippines H1 (M+1) AAWAB00 FAME -10 FOB ARA AAWGY00
Bioethanol CIF Philippines H2 (M+1) AAWAC00 FAME 0 FOB ARA AAXQL00
Bioethanol CIF Philippines H1 (M+2) AAWAE00 Soy Methyl Ester (SME) FOB ARA
Rapeseed Methyl Ester (RME) FOB ARA
AAUCB00
AAUCA00
BIOFUELSCAN
EU Renewable Energy Directive ($/mt)
ETBE description Oracle Codes FAME -10 FOB ARA AAWGH00
Volume 1 / Issue 126 / November 23, 2012
AssessmeNts
Northwest Europe FAME 0 FOB ARA AAWGI00 ethanol
2
2
ETBE FOB AR ($/mt) AASLQ00 Soy Methyl Ester (SME) FOB ARA AAWGJ00 etBe
Renewable Identification Number (RIN)
3
4
ethANol
Asia ($/mt) United states
3
3
Northwest europe
Biodiesel FOB Southeast Asia AAVSV00 Asia
3
www.platts.com/petrochemicals