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Specifications GuideAmericas Refined Oil ProductsLatest update: January 2022Definitions of the trading locations for which Plattspublishes daily indexes or assessments2LPG/NGLsGasolineBlendstocksNaphthaJet fuelHeating oilDieselFuel oilFeedstocksLubes and asphaltUS futures614181923273236404142Revision history43www.spglobal.com/platts
Specifications GuideAmericas Refined Oil Products: January 2022DEFINITIONS OF THE TRADING LOCATIONS FOR WHICH PLATTS PUBLISHES DAILY INDEXES OR ASSESSMENTSAll the assessments listed here employ S&P Global PlattsAssessments Methodology, as published at https://www.spglobal.com/platts/plattscontent/ assets/ /platts-assessmentsmethodology-guide.pdf.These guides are designed to give Platts subscribers as muchinformation as possible about a wide range of methodology andspecification questions.This guide is current at the time of publication. Platts mayissue further updates and enhancements to this guide and willannounce these to subscribers through its usual publicationsof record. Such updates will be included in the next version ofthis guide. Platts editorial staff and managers are available toprovide guidance when assessment issues require clarification.Pipeline assessments: Platts US refined product pipelineassessments reflect product specifications of the relevantpipeline, unless otherwise specified. These are updatedperiodically by the pipeline companies and Platts assessmentsreflect the latest specifications.Renewable identification numbers: Platts US domestic refinedproduct assessments reflect the tradable value of productsin the spot market, which, for road transport fuels includesthe cost of meeting renewable volume obligations (RVOs)mandated by the Environmental Protection Agency. However,this cost, represented by the spot market value of RINs, istypically deducted from the value of export and import cargoassessments.Nomination procedures: For most FOB assessments, it is theseller, as terminal party, who nominates the terminal and loadingdate. For most delivered assessments, it is the buyer, as terminalparty, who nominates the terminal and delivery date. 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.Platts understands that there are various public dock clausesused in the spot market. In the event that terminal dates do notmeet the reported transaction laycan, the terminal party couldapply these clauses to extend demurrage liabilities for the vesselparty. For example, if a terminal date obtained was two daysafter the transaction laycan, and the vessel arrives within thetransaction laycan, the vessel party could be liable for those twodays of demurrage under some public dock clauses.Terminal parties for trades reported to Platts should ensure thatthey seek terminal dates that meet the reported transactionlaycan. If the terminal party fails to obtain terminal dates thatmeet the laycan, then the terminal party should bear the cost ofthe extended demurrage.Explanation of EFPs: In the Americas, many physical refinedproducts trade at a differential to an underlying oil futurescontract: light sweet crude oil, New York Harbor RBOB gasolinebarges or New York Harbor ULSD barges. The primary exchangeused to date is the New York Mercantile Exchange (NYMEX). Forassessments to be robust and fully reflective of spot values, thevalues of both the EFP as well as the underlying futures valuemust be established at the same time.When analyzing bids, offers and expressions of interest to tradethat are submitted as an EFP versus a futures contract (e.g.July RBOB 0.01/barrel), Platts will use the official NYMEXsettlement price at 2:30 pm ET for the futures contract inquestion to calculate the flat price for the assessment.Explanation of the Strip: Strips are assessed in certain USrefined product markets, particularly fuel oil, to aid in theassessment of market value. This explanation for the Stripdescribes how it is determined, and its application in Plattsassessment process.2The Platts assessment process determines the value of physicalcommodities for forward delivery or loading at a wide varietyof locations across the Americas. Many of these commoditiestrade on an outright price basis – where the full price is knownat time of trade -- or on a Platts-related, floating price basis –where much of the value is determined in reference to referenceprices that will be published in the future. Additionally, someproducts are regularly traded as Exchange of Futures forPhysical contracts, where the difference in value between aphysical market and a reference futures contract is an importantcomponent in establishing the value of the physical marketbeing assessed.When the value of commodities is clearly defined throughoutright price market activity, such activity can help establishvalue with a high degree of certainty. When there is a lack ofoutright price activity in a market, or when the most clearlydefined market activity is being demonstrated on a floating pricebasis, it becomes critical to track the value the market assignsto future, yet-to-be published Platts assessments.In derivatives markets, a Strip is any contiguous date seriesin the future. A “Summer Strip” might be April, May, June, July,August and September. An “Annual Strip” would typically be 12consecutive months. A Platts Strip is a sequence of days thatrepresent the future loading dates reflected in Platts oil productassessments.The Strip published by Platts for certain oil markets representsthe value the market assigns to future Platts assessments,through trading in Platts-related, monthly derivatives. This valueis determined by analyzing the derivatives market.As financially settled contracts, derivatives derive their valuefrom published benchmark assessments. They do not entailphysical delivery of oil. For example, if a 50,000-barrel June swap
Specifications GuideAmericas Refined Oil Products: January 2022derivative was bought at 88.00/barrel, the seller would pay thebuyer 1/barrel (or 50,000 in this example) if the underlyingbenchmark averaged 89.00/barrel over the month of June; thebuyer would pay the seller 1/barrel (or 50,000 in this example)if the reference price averaged 87.00/barrel. Oil derivatives,commonly used to hedge exposure to benchmark prices in thefuture, are generally traded for full months, and also the balanceof the prevailing month.The final, financial settlement of a swap derivative can only becompleted when all the value that comprise the average areknown (i.e., after the last publishing day in June, for a swapderivative that references the average of published prices inJune).Just like swap derivatives, Platts-related physical cargoes thattrade on a floating price basis ultimately derive a final value overa pre-determined period of time in the future – usually aroundloading dates, with a premium or discount applied to reflectmarket structure, and possible differences in specification,location and trading terms.88.7088.60June 15: Last Loading Day Reflected In Platts Assessments (And Last Day Of Strip) 88.50/barrel: Value Of June Swap88.5088.40 88.20/mt: Value Of July Swap88.30June 11: Middle Loading DayReflected In Platts Assessments(Midpoint Of MOPS Strip)88.20 88.43/barrel, or Platts minus 0.11/barrelValue Of Physical Assessment (Mid 311-Jul-1309-Jul-1307-Jul-1305-Jul-13303-Jul-13By standing as a hedgeable proxy value for the Platts-relatedelement of a floating price cargo, the Strip is essential todefining the flat-price equivalent value of a cargo that is tradedas a premium or discount to the Platts assessment.01-Jul-13published when there is a vibrant derivatives market to serve asthe basis for 9-Jun-1307-Jun-1388.0005-Jun-13 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.June 7: First Loading Day Reflected In Platts Assessments (And First Day Of Strip)03-Jun-13Platts therefore publishes a Platts Strip in markets wherephysical cargoes trade at both fixed-price levels, and aspremiums or discounts to the Platts assessment itself. It is88.8001-Jun-13The Platts Strip is used as a component in measuring thevalue of the physical market, when floating price trading iscommon. The strip represents an underlying, market-assignedfuture value for the Platts assessments, and it is an importantcomponent in fully analyzing the price determination of physicalcargoes when they are regularly traded on a floating price basis.While the value that Platts will publish in its assessmentscan never be known at the time of trading a cargo that will bedelivered and priced in the future, a hedgeable, proxy valuefor the relevant Platts assessments of the future can beextrapolated from derivative markets, so long as the derivativebeing analyzed, and the floating price physical contract beingvalued, use the same Platts reference price for final settlement.ILLUSTRATION OF THE STRIPAs an example, the Platts USGC HSFO assessment is based oncargoes loading 7-15 days from the date of the assessment.Hence, if today is May 31, the assessments will reflect the valueof cargoes loading during June 7-15.The Platts Strip is the value of the derivatives market on thoseassessment days; in this particular example, the mid-point ofthe assessed period is June 11.
Specifications GuideAmericas Refined Oil Products: January 2022This is a specific sample calculation for how the MOPS stripwould be calculated: 48.50 (0.009836 x 4)Physical premium (or discount) Physical assessment - MOPSstrip 48.54 (rounded to two decimal places)USGC HSFO on May 31, 2017 ( /barrel)June (derivative): 48.50July (derivative): 48.20June/July spread: 30 cents (backwardation)Physical premium (or discount) 48.43 – 48.54In terms of the application of Strip in the Platts assessmentprocess, the Strip provides the third leg when triangulating thephysical value of the market using the formula “physical value Platts plus premium (or discount).” The Strip defines the value of“Platts” in this equation. Again, this value is what the market hasdetermined the future, yet to be published Platts assessmentsare able to be hedged at in the derivatives marketplace.Physical USGC HSFO (loading on June 7-15): 48.43Since there are 30.5 days between mid-June (30 days) and midJuly (31 days) – we calculate the daily backwardation value tobe 0.9836 cents (from 0.30/30.5). Since there are four daysbetween mid-June (June 15) and the mid-point date for physicalassessment (June 11), the calculated Strip value is: 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.Physical premium (or discount) minus 0.11In a second example, the reverse process also generates a value.If Platts assessed the physical market premium as being MOPSminus 0.11, the following equation could be applied:Physical assessment MOPS plus premium (or discount)In an example, the difference between the physical value arrivedat by the close of the assessment process and the Strip yieldseither a positive value or a negative value. This is the premiumor the discount at which the physical market is trading versusfuture Platts assessments. In this case:4Physical assessment 48.54 - 0.11Physical assessment 48.43
Specifications GuideAmericas Refined Oil Products: January 2022LPGS/NGLSAssessmentCodeMavgContract basisLocationDelivery periodMin sizeMax sizeTypical sizeCurrencyUOMConvPurity Ethane Mt Belvieu non-LST Mo01PMUDB05PMUDG03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon7.42Purity Ethane Mt Belvieu non-LST Mo02AAWUC00AAWUC03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon7.42E/P Mix Conway spotPMAAO00PMAAO03FOBConway, KSMin. 3 days, any barrel5,000--US CentsGallon-E/P Mix Ethane Mt Belvieu non-LST pipe Mo01PMUDA05PMUDA03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon-Propane Conway spotPMAAT00PMAAT03FOBConway, KSMin. 3 days, any barrel5,000--US CentsGallon5.21Propane Mt Belvieu LST pipe Mo01PMABQ00PMABQ03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon5.21Propane Mt Belvieu LST pipe Mo02AAWUE00AAWUE03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon5.21Propane Mt Belvieu non-LST pipe Mo01 (cts/gal)PMAAY00PMAAY03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon5.21Propane Mt Belvieu non-LST pipe Mo02 (cts/gal)AAWUD00AAWUD03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon5.21Propane Mt Belvieu non-LST pipe Mo01 ( /mt)AAXDD00AAXDD03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US MT5.21Propane Hattiesburg spotAALBC00AALBD00FOBHattiesburg, MSMin. 3 days, any barrel5,000--US CentsGallon5.21Propane FOB USGC ( /mt)AAXIM00AAXIM03FOBUSGC30-45 days44,00044,000-US MT5.21Propane FOB USGC vs Mt Belvieu ( /mt)AAXIO00AAXIO03FOBUSGC30-45 days44,00044,000-US MT5.21Propane FOB USGC (cts/gal)AAXIN00AAXIN03FOBUSGC30-45 days44,00044,000-US CentsGallon5.21Propane FOB USGC vs Mt Belvieu (cts/gal)AAXIP00AAXIP03FOBUSGC30-45 days44,00044,000-US CentsGallon5.21Butane FOB USGC ( /mt)ABTNB00ABTNB03FOBUSGC30-45 days44,00044,000-US MT4.53Butane FOB USGC vs Mt Belvieu ( /mt)ABTND00ABTND03FOBUSGC30-45 days44,00044,000-US MT4.53Butane FOB USGC (cts/gal)ABTNA00ABTNA03FOBUSGC30-45 days44,00044,000-US CentsGallon4.53Butane FOB USGC vs Mt Belvieu (cts/gal)ABTNC00ABTNC03FOBUSGC30-45 days44,00044,000-US CentsGallon4.53LPG 22:22 FOB USGC ( /mt)ALPUB00ALPUB03FOBUSGC30-45 days44,00044,000-US MT4.87LPG 22:22 FOB USGC vs Mt Belvieu ( /mt)ALPUD00ALPUD03FOBUSGC30-45 days44,00044,000-US MT4.87LPG 22:22 FOB USGC (cts/gal)ALPUA00ALPUA03FOBUSGC30-45 days44,00044,000-US CentsGallon4.87LPG 22:22 FOB USGC vs Mt Belvieu (cts/gal)ALPUC00ALPUC03FOBUSGC30-45 days44,00044,000-US CentsGallon4.87Butane Conway spotPMAAD00PMAAD03FOBConway, KSMin. 3 days, any barrel5,000--US CentsGallon4.53Butane Mt Belvieu LST pipe Mo01PMABR00PMABR03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon4.53Butane Mt Belvieu non-LST pipe Mo01 (cts/gal)PMAAI00PMAAI03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon4.53Butane Mt Belvieu non-LST pipe Mo02 (cts/gal)AAWUF00AAWUF03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon4.53Butane Mt Belvieu non-LST pipe Mo01 ( /mt)AAXDC00AAXDC03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US MT4.53Isobutane Conway spotPMAAA00PMAAA03FOBConway, KSMin. 3 days, any barrel5,000--US CentsGallon4.7Isobutane Mt Belvieu non-LST pipePMAAB00PMAAB03FOBMont Belvieu, TXMin. 3 days, any barrel10,000--US CentsGallon4.7Natural Gasoline Mt Belvieu Non-Targa pipe Mo01PMABY05PMABZ03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon3.97Natural Gasoline Mt Belvieu Non-Targa pipe Mo02AAWUG00AAWUG03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon3.97Natural Gasoline Mt Belvieu Targa pipePMABW05PMABX03FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon3.97Natural Gasoline Mt Belvieu LST pipeAAIVF00AAIVG00FOBMont Belvieu, TXMin. 3 days, any barrel25,000--US CentsGallon3.97Natural Gasoline Conway spotPMAAQ00PMAAQ03FOBConway, KSMin. 3 days, any barrel5,000--US CentsGallon3.97Propane CFR Suape ( /mt)BLSUA00BLSUA03CFRSuape45-60 days forward44,00044000-US MT-Propane CFR Suape (Real/kg)BLSAA00BLSAA03CFRSuape45-60 days forward44,00044000-RealKilogram-Propane CFR Santos ( /mt)BLSUB00BLSUB03CFRSantos45-60 days forward44,00044000-US MT-Propane CFR Santos (Real/kg)BLSAB00BLSAB03CFRSantos45-60 days forward44,00044000-RealKilogram-LPG IPP Suape ( /mt)BLSUC00BLSUC03-Suape----US MT- 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.5
Specifications GuideAmericas Refined Oil Products: January 2022LPGS/NGLSAssessmentCodeMavgContract basisLocationDelivery periodMin sizeMax sizeTypical sizeCurrencyUOMConvLPG IPP Suape (Real/kg)BLSUD00BLSUD03-Suape----RealKilogram-LPG IPP Santos ( /mt)BLSAC00BLSAC03-Santos----US MT-LPG IPP Santos /NGLsPlatts assessments for liquefied petroleum gas (LPG) and othernatural gas liquids (NGLs) reflect trading in barrels for any daysin the specified delivery month – also known as “any barrels” —through the end of the month, except for natural gasoline, whichrolls three calendar days from the end of the month. Very promptbarrels are not reflected in Platts assessments. Platts assessesthe value of the current month, before rolling its assessmentforward by one month for all NGLs, except natural gasoline.Second-month assessments reflect one delivery month forwardfrom the prompt delivery month.Platts US LPG/NGL assessments are primarily published in UScents per gallon, with US dollars per barrel and US dollars permetric ton equivalents provided using conversion factors, whereneeded, as detailed in the table showing codes and conversionfactors.Platts publishes assessments on an FOB Mont Belvieu, Texas,basis, and FOB Conway, Kansas, basis for all gas liquids. Plattsalso assesses propane at Hattiesburg, Mississippi. The volumereflected in these assessments is a minimum of 5,000 barrelsfor all Conway and Hattiesburg trades; a minimum of 10,000barrels for isobutane at Mont Belvieu; and a minimum of 25,000barrels for all other NGL products.Propane, butane and isobutane are assessed at Mont Belvieuon a non-LST basis and propane and butane on an LST basis.LST material is fractionated and stored in caverns at the formerTexas Eastern Transmission Facility, previously owned by 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.Louis Dreyfus Holdings and now owned by Lone Star NGL – asubsidiary of Energy Transfer Partners.Natural gasoline is assessed on an LST, Targa and non-Targabasis at Mont Belvieu. The Targa facility, formerly owned byWarren Petroleum, is a major storage and fractionation facility inthe Mont Belvieu area.Ethane (C2): Platts publishes an assessment for non-LSTpurity ethane, as well as assessments for non-LST and Conwayethane/propane mix. Ethane assessments reflect material witha specific gravity of 0.3546 and boiling point of -89 C. Purityethane is 95% pure or better. Ethane/propane mix is comprisedof 80% ethane and 20% propane.Propane (C3): Platts publishes assessments for LST, non-LST,Conway and Hattiesburg propane. The assessments reflect aspecific gravity of 0.5077 and boiling point of -43 C. Productspecifications are the same for Mont Belvieu and Conwayassessments.Propane FOB USGC: Platts assesses propane cargoes loadingat major US Gulf Coast export terminals on an FOB basis. Theassessment reflects loadings out of the Enterprise and Targaterminals on the Houston Ship Channel, Phillips 66’s terminal inFreeport and Energy Transfer Partners’ terminal in Nederland.The assessment reflects the value of 44,000 mt cargoes on verylarge gas carriers (VLGCs) loading 30-45 days forward from thedate of publication. Smaller trade sizes in refrigerated propanemay be considered in the assessment, but normalized forsize. The quality basis for this assessment is “low-e” propane,6or propane with an ethane content of 2% maximum. Theassessment is published in both US dollars per metric ton andUS cents per gallon, to allow for efficient comparison betweenUS pipeline and export markets.Butane FOB USGC: Platts assesses butane cargoes loadingat major US Gulf Coast export terminals on an FOB basis. Theassessment reflects loadings out of the Enterprise and Targaterminals on the Houston Ship Channel, Phillips 66’s terminal inFreeport and Energy Transfer Partners’ terminal in Nederland.The assessment reflects the value of 44,000 mt cargoes on verylarge gas carriers (VLGCs) loading 30-45 days forward from thedate of publication. Smaller trade sizes in refrigerated butanemay be considered in the assessment, but normalized for size.The assessment is published in both US dollars per metricton and US cents per gallon, to allow for efficient comparisonbetween US pipeline and export markets.LPG 22:22 FOB USGC: Platts assesses split propane/butanecargoes loading at major US Gulf Coast export terminals onan FOB basis. The assessment reflects loadings out of theEnterprise and Targa terminals on the Houston Ship Channel,Phillips 66’s terminal in Freeport and Energy Transfer Partners’terminal in Nederland. The assessment reflects the value of44,000 mt cargoes on very large gas carriers (VLGCs) loading30-45 days forward from the date of publication, half propaneand half butane. Smaller trade sizes or different splits maybe considered in the assessment, but normalized for size. Theassessment is published in both US dollars per metric ton andUS cents per gallon, to allow for efficient comparison betweenUS pipeline and export markets.
Specifications GuideAmericas Refined Oil Products: January 2022Americas VLGC freight: Platts assesses VLGC freightHouston-Japan, VLGC freight Houston-NWE and VLGC freightHouston-Morocco. Please refer to the freight methodology andspecifications guide for details of these assessments: https://www.spglobal.com/platts/PlattsContent/ assets/ /global freight.pdfButane (C4): Platts publishes assessments for LST, non-LST andConway normal butane. Specific gravity of 0.5844; boiling pointof -1 C. Product specifications are the same for Mont Belvieuand Conway assessments.Isobutane (IC4): Platts publishes assessments for non-LST andConway isobutane. Specific gravity of 0.5631; boiling point of-12 C. Product specifications are the same for Mont Belvieu andConway assessments.Natural gasoline (C5): Platts publishes assessments for LST,Targa, non-Targa and Conway. Specific gravity of 81 API; RVP of 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.12-14 psi; boiling point of 90 F; sulfur of maximum 0.1%; octaneof maximum 73 (R M)/2.Latin AmericaDelivered Brazil propane: Platts assesses propane on a CFRbasis to Suape and Santos in 44,000 mt cargoes, for delivery45-60 days forward from the day of assessment, with multiportdischarge optionality in line with typical market practice. Theassessments are published in /mt and Brazilian Real/kilogram.Brazil LPG IPP: Platts also publishes import parity prices forLPG, comprised of 70% propane and 30% butane, at Suape andSantos. The price represents the cost of LPG imported on theday of publication at each specified port. It includes the productvalue, freight, demurrage, insurance, losses, marine taxes,multi-port discharge optionality and quality differences, whereapplicable. The assessments are published in /mt and BrazilianReal/kilogram.7
Specifications GuideAmericas Refined Oil Products: January 2022GASOLINECodeMavgContract basisLocationDelivery periodMin sizeMax sizeCurrencyUOMGasoline CBOB East TexasAESTA00AESTA03FOBHoustonPrompt cycle25,000-US CentsGallonGasoline CBOB East Texas vs NYMEX RBOBAESTC00AESTC03FOBHoustonPrompt cycle25,000-US CentsGallonGasoline Premium CBOB East TexasAESTB00AESTB03FOBHoustonPrompt cycle25,000-US CentsGallonGasoline Premium CBOB East Texas vs NYMEX RBOBAESTB00AESTD03FOBHoustonPrompt cycle25,000-US CentsGallonGasoline CBOB 87 USGC Houston prompt pipelineAARQU00AARQU03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline CBOB 87 USGC Houston prompt pipeline vs NYMEX RBOBAANYX77AANYK03FOBHoustonPrompt Cycle25000-US CentsGallonGasoline CBOB 87 USGC pipeline Cycle 02AARQW00AARQW03FOBHoustonForward Cycle25000-US CentsGallonGasoline CBOB 87 USGC pipeline Cycle 03AARQX00AARQX03FOBHoustonForward Cycle25,000-US CentsGallonGasoline CBOB 87 USGC pipeline Cycle 04AARQY00AARQY03FOBHoustonForward Cycle25,000-US CentsGallonGasoline CBOB 87 USGC pipeline Cycle 05AARQZ00AARQZ03FOBHoustonForward Cycle25,000-US CentsGallonGasoline CBOB 87 USGC pipeline Cycle 06AARQA00AARQA03FOBHoustonForward Cycle25,000-US CentsGallonGasoline CBOB 87 USGC waterborneAAWES00AAWES03FOBHouston10-18 days50,000125,000US CentsGallonGasoline CBOB 87 USGC Waterborne (minus RVO)AGWBA00AGWBA03FOBHouston10-18 days50,000125,000US CentsGallonGasoline Premium CBOB 93 USGC Houston prompt pipelineAARQV00AARQV03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Premium CBOB 93 USGC Houston prompt pipeline vs NYMEX RBOB AANYX78ACNYX78FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Premium CBOB 93 USGC WaterborneAGWBB00AGWBB03FOBHouston10-18 days50,000125,000US CentsGallonGasoline Premium CBOB 93 USGC Waterborne (minus RVO)AGWBC00AGWBC03FOBHouston10-18 days50,000125,000US CentsGallonGasoline RBOB 83.7 USGC Houston prompt pipelineAAMFB00AAMFC00FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline RBOB 83.7 USGC Houston prompt pipeline vs NYMEX RBOBAANYX79AANYY03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline RBOB 91.4 USGC Houston prompt pipelineAAMNG00AAMNH00FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline RBOB 91.4 USGC Houston prompt pipeline vs NYMEX RBOBAANYX80ACNYX80FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 87 USGC prompt pipelinePGACT00PGACT03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 87 USGC prompt pipeline vs NYMEX RBOBAANY105AANYL03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 01AAELC00AAFOM00FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 02AAELD00AAFON00FOBHoustonForward Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 03AAELE00AAFOO00FOBHoustonForward Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 04AAELF00AAFOP00FOBHoustonForward Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 05AAELG00AAFOQ00FOBHoustonForward Cycle25,000-US CentsGallonGasoline Unl 87 USGC pipeline Cycle 06AAELH00AAFOR00FOBHoustonForward Cycle25,000-US CentsGallonGasoline Unl 87 USGC waterbornePGACU00PGACU03FOBHouston10-18 days50,000125,000US CentsGallonGasoline Unl 87 USGC Waterborne (minus RVO)AGWBD00AGWBD03FOBHouston10-18 days50,000125,000US CentsGallonGasoline Unl 89 USGC prompt pipelinePGAAY00PGAAY03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 89 USGC waterbornePGAAZ00PGAAZ03FOBHouston10-18 days50,000125,000US CentsGallonGasoline Unl 93 USGC prompt pipelinePGAJB00PGAJB03FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 93 USGC prompt pipeline vs NYMEX RBOBAANYX76ACNYX76FOBHoustonPrompt Cycle25,000-US CentsGallonGasoline Unl 93 USGC waterbornePGAIX00PGAIX03FOBHouston10-18 days50,000125,000US CentsGallonAssessmentUS Gulf Coast 2022 S&P Global Platts, a division of S&P Global Inc. All rights reserved.8
Specifications GuideAmericas Refined Oil Products: January 2022GASOLINEAssessmentCodeMavgContract basisLocationDelivery periodMin sizeMax sizeCurrencyUOMGasoline Unl 93 USGC Waterborne (minus RVO)AGWBE00AGWBE03FOBHouston10-18 days50,000125,000US CentsGallonColonial line space Line 1 (gasoline)AAXTA00AAXTA03FOB/CIFColonial PipelinePrompt Cycle25,000-US CentsGallonColonial line space Line 1 and Line 3 (gasoline)AAXTC00AAXTC03FOB/CIFColonial PipelinePrompt Cycle25,000-US CentsGallonColonial line space Line 3 (gasoline)AAXTB00AAXTB03FOB/CIFColonial PipelinePrompt Cycle25,000-US CentsGallonIntraday Gasoline CBOB USGC pipeAAWZU00-FOBHoustonPrompt Cycle25,000-US CentsGallonIntraday Gasoline CBOB USGC pipe vs NYMEX RBOBAAWZU01-FOBHoustonPrompt Cycle25,000-US CentsGallonIntraday Gasoline RBOB USGC pipeAAWZX00-FOBHoustonPrompt Cycle25,000-US CentsGallonIntraday Gasoline RBOB USGC pipe vs NYMEX RBOBAAWZX01-FOBHoustonPrompt Cycle25,000-US CentsGallonUSGC CBOB RVP adjustment plus 1 psiAGLOA00AGLOA03-HoustonPrompt Cycle--US CentsGallonPremium CBOB RVP adjustment plus 1 psiAGHOA00AGHOA03-HoustonPrompt Cycle--US CentsGallonUSGC CBOB RVP adjustment minus 1 psiAGLOB00AGLOB03-HoustonPrompt Cycle--US CentsGallonPremium CBOB RVP adjustment minus 1 psiAGHOC00AGHOC03-HoustonPrompt Cycle--US Cents#SPILL!Gasoline CBOB Buckeye PipelineAAPSY00AAPSY03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB Buckeye Pipeline vs NYMEX RBOBAANYX33AANYF03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB Buckeye Pipeline supplementalAAQIY00-FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB Colonial Pipeline LindenABXPW00ABRQW03FOBNYHFirst Full Cycle25,00075,000US CentsGallonGasoline CBOB Colonial Pipeline Linden vs NYMEX RBOBAANYX41AANYI03FOBNYHFirst Full Cycle25,00075,000US CentsGallonGasoline CBOB Laurel pipelineAAUAS00AAUAS03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB Laurel pipeline vs NYMEX RBOBAANYX29ACNYX29FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB Laurel pipeline supplementalAAVOJ00-FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB NY BargeAAWBL00AAWBL03FOBNYH3-7 days25,000100,000US CentsGallonGasoline CBOB NY Barge vs NYMEX RBOBAANYX14AANYD03FOBNYH3-7 days25,000100,000US CentsGallonGasoline CBOB NY Barge supplementalAAXFS00-FOBNYH3-7 days25,000100,000US CentsGallonGasoline CBOB PA Buckeye PipelineAAVYA00AAVYA03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline CBOB PA Buckeye Pipeline vs NYMEX RBOBAANYX37ACNYX37FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB Buckeye PipelineAAPSZ00AAPSZ03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB Buckeye Pipeline vs NYMEX RBOBAANYX34ACNYX34FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB Buckeye Pipeline supplementalAAQIZ00-FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB PA Buckeye PipelineAAVYB00AAVYB03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB PA Buckeye Pipeline vs NYMEX RBOBADLAL00ACLAL00FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB Laurel pipelineAAUAT00AAUAT03FOBNYH*3-7 days M-W, 5-9 days Th-F25,00075,000US CentsGallonGasoline Prem CBOB Laurel
Terminal parties for trades reported to Platts should ensure that they seek terminal dates that meet the reported transaction laycan. If the terminal party fails to obtain terminal dates that meet the laycan, then the terminal party should bear the cost of the extended demurrage. Explanation of EFPs: In the Americas, many physical refined
