Platts to Not Include Russia Origin in Gasoil and Jet Fuel Assessments

Platts will no longer include Russia as part of the open origin basis of its gasoil and jet fuel/kerosene cargo assessments in Asia and the Middle East.

• Market consultation showed no significant flow of Russian-origin middle distillates into Asian and Middle East markets. Any changing trade patterns from new Russian flows could be potentially disruptive.
• Removing Russia as a potential source of supply prevents any unplanned disruption and ensures that the assessments consistently reflect the value of the same non-Russian flows of product as they have done historically.
• Future Russian middle distillate flows into Asia and the Middle East could create a two-tier market, an open market for non sanctioned middle distillates, and a possible market including Russian-origin fuel.
• If new Russian flows into Asia emerge, Platts will consult with the industry to determine the basis on which these barrels are trading and how best to reflect the value of them in any price assessment.