Platts changes how it assesses oil product values in Asia trade
From July 1, FOB S'pore price assessments will no longer specify a loading point in S'pore or southern M'sia
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Singapore
OIL pricing agency Platts is changing how it assesses oil product values in Asian trade from July 1 in a move that traders expect to boost volumes and encourage the use of regional oil storage facilities built at a cost of billions of dollars.
The change in how fuel oil, diesel, jet fuel and petrol are assessed for loadings out of Singapore and Malaysia takes a borderless approach similar to that in the world's largest oil storage hub Amsterdam-Rotterdam-Antwerp (ARA).
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