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Oil timing-increment-guidelines PLATTS
- 1. [OIL ]
METHODOLOGY AND SPECIFICATIONS GUIDE
OilTiming and Increment Guidelines
(Latest Update: August 2015)
EUROPE OIL TIMING GUIDELINES 2
EUROPE OIL INCREMENT GUIDELINES 3
AMERICAS OIL TIMING GUIDELINES 4
AMERICAS OIL INCREMENT GUIDELINES 5
ASIA OIL TIMING GUIDELINES 7
ASIA OIL INCREMENT GUIDELINES 8
REVISION HISTORY 9
- 2. 2COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Europe Oil Timing Guidelines
Physical
cargoes,
Explanation of partials or Bids/offers Cut off for Reaction time No more Repeat of an order Period of testing the
assessment guideline Outright or paper Window or due for last price after a trade price Market which triggers extension repeatability of an order
categories: spreads swaps eWindow window entry changes to repeat order changes close of the window traded near close
Region Product State Environment Pricing state Repeatability Final state Extension trigger period Extension state
Europe Naphtha Outright Cargoes eWindow 4.05.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Naphtha Outright Swaps eWindow 4.20.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Naphtha Spread Swaps eWindow 4.15.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoline Outright Cargoes Window 3.44.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Gasoline Outright Barges eWindow 4.05.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoline Outright Swaps Window 4.14.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Jet fuel Outright Cargoes eWindow 3.44.59.99 4.28.59.99 Within 60 secs 4.29.00.00 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Jet fuel Outright Barges Window 3.59.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Jet fuel Outright Swaps eWindow 4.20.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Jet fuel Spread Swaps eWindow 4.15.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoil Outright Cargoes eWindow 3.44.59.99 4.28.59.99 Within 60 secs 4.29.00.00 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoil Outright Barges eWindow 4.05.00.99 4.28.59.99 Within 45 secs 4.29.00.00 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoil Outright Swaps eWindow 4.20.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Gasoil Spread Swaps eWindow 4.15.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Diesel Outright Cargoes eWindow 3.44.59.99 4.28.59.99 Within 60 secs 4.29.00.00 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Diesel Outright Barges eWindow 4.05.00.99 4.28.59.99 Within 45 secs 4.29.00.00 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Diesel Outright Swaps eWindow 4.20.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Diesel Spread Swaps eWindow 4.15.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Fuel oil Outright Cargoes eWindow 3.45.00.99 4.30.00.99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Fuel oil Outright Barges eWindow 4.05.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Fuel oil Outright Swaps eWindow 4.20.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Fuel oil Spread Swaps eWindow 4.15.00.99 4:30:00:99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe LPG Outright Cargoes Window 3.44.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe LPG Outright Coasters Window 3.44.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe LPG Outright Swaps Window 4.14.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Feedstocks Outright Cargoes Window 3.44.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Feedstocks - VGO only Outright Cargoes eWindow 3.45.00.99 4.30.00.99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Feedstocks Outright Barges Window 3.59.59.99 4.27.59.99 Within 60 secs 4.28.00.00 4.29.59.99 4.29.40.00 4.29.59.99 4.30.00.00 4.32.59.99
Europe Feedstocks - VGO only Outright Barges eWindow 3.05.00.99 4.30.00.99 Within 30 secs N/A 4.30.00.99 4.29.40.99 4.30.00.99 4.30.01.00 4.31.00.99
Europe Crude oil - North Sea Outright Partials eWindow 4.25.00.99 4.30.00.99 Within 15 secs N/A 4.30.00.99 N/A N/A N/A N/A
Europe Crude oil - North Sea Spread Partials eWindow 4.25.00.99 4.30.00.99 Within 15 secs N/A 4.30.00.99 N/A N/A N/A N/A
Europe Crude oil - North Sea Diff to Cash CFD eWindow 4.15.00.99 4.28.00.99 Within 30 secs 4.28.01.00 4.30.00.99 N/A N/A N/A N/A
Europe Crude oil - North Sea Spread/roll CFD eWindow 4.15.00.99 4.28.00.99 Within 30 secs 4.28.01.00 4.30.00.99 N/A N/A N/A N/A
Europe Crude oil - North Sea Outright Cargoes Window 4.09.59.99 4.24.59.99 Within 60 secs 4.25.00.00 4.29.59.99 N/A N/A N/A N/A
Europe Crude Oil - Urals&others Diff to Dated Cargoes Window 3.44.59.99 4.24.59.99 Within 60 secs 4.25.00.00 4.29.59.99 N/A N/A N/A N/A
Europe WAF Diff to Dated Cargoes Window 3.44.59.99 4.24.59.99 Within 60 secs 4.25.00.00 4.29.59.99 N/A N/A N/A N/A
All times shown as local time in London
- 3. 3COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Europe Oil Increment Guidelines
Physical
Explanation of cargoes,
assessment guideline Outright or partials or Window or Volume of physical The amount and frequency of sequential price movements
categories: spreads paper swaps eWindow or paper contract necessary to test market reaction
Volume Increment
Region Product State Environment Min Max Min Max Unit Frequency
EEurope Naphtha Outright Cargoes eWindow 12,500 mt 25 cents 100 cents $/mt per 20 secs
Europe Naphtha Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Naphtha Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoline Outright Cargoes Window 10,000 mt 37,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Gasoline Outright Barges eWindow 1,000 mt 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoline Outright Swaps Window 5,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Jet fuel Outright Cargoes eWindow 25,000 mt 45,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Jet fuel Outright Barges Window 2,000 mt 5,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Jet fuel Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Jet fuel Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoil Outright Cargoes eWindow 10,000 mt 30,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoil Outright Barges eWindow 1,000 mt 3,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoil Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Gasoil Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Diesel Outright Cargoes eWindow 10,000 mt 30,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Diesel Outright Barges eWindow 1,000 mt 3,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Diesel Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Diesel Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Fuel oil Outright Cargoes eWindow 25,000 mt 30,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Fuel oil 1% Outright Barges eWindow 1,000 mt 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Fuel oil 3.5% Outright Barges eWindow 2,000 mt 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Fuel oil Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Fuel oil Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe LPG Outright Cargoes Window 8,500 mt 20,000 mt 25 cents 100 cents $/mt per 60 secs
Europe LPG Outright Coasters Window 1,000 mt 3,600 mt 25 cents 100 cents $/mt per 60 secs
Europe LPG Outright Swaps Window 5,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Feedstocks Outright Cargoes Window 10,000 mt 50,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Feedstocks - VGO only Outright Cargoes eWindow 10,000 mt 50,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Feedstocks Outright Barges Window 1,000 mt 5,000 mt 25 cents 100 cents $/mt per 60 secs
Europe Feedstocks - VGO only Outright Barges eWindow 1,000 mt 5,000 mt 25 cents 100 cents $/mt per 20 secs
Europe Crude oil - North Sea Outright/Spread Partials eWindow 100,000 bbl 1 cent 3 cents $/barrel per change
Europe Crude oil - North Sea Spread/Diff CFD eWindow 100,000 bbl 1 cent 5 cents $/barrel per 30 secs
Europe Crude oil - North Sea Outright Cargoes Window 600,000 bbl 1 cent 5 cents $/barrel per 60 secs
Europe Crude Oil - Urals&others Spread Cargoes Window 600,000 bbl 1,000,000 bbl 1 cent 5 cents $/barrel per 60 secs
- 4. 4COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Americas Oil Timing Guidelines
Physical
cargoes,
Explanation of partials or Bids/offers Cut off for Reaction time No more Repeat of an order Period of testing the
assessment guideline Outright or paper Window or due for last price after a trade price Market which triggers extension repeatability of an order
categories: spreads swaps eWindow window entry changes to repeat order changes close of the window traded near close
Region Product State Environment Pricing state Repeatability Final state Extension trigger period Extension state
Americas USGC Gasoline Spread Barges eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USGC Gasoline Spread Pipeline eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USGC Gasoline Spread Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Gasoline Spread Barges eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USAC Gasoline Spread Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Gasoline Spread Pipeline eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USAC Gasoline Spread Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USWC Gasoline Spread Pipeline Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USWC Gasoline Spread Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USGC Distillate Spread Barges eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USGC Distillate Spread Pipeline eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USGC Distillate Spread Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Distillate Spread Barges eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USAC Distillate Spread Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Distillate Spread Pipeline eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.15.00.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USWC Distillate Spread Pipeline Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USWC Distillate Spread Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Midwest Gasoline Spread Pipeline Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Midwest Distillate Spread Pipeline Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Fuel Oil Outright Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USAC Fuel Oil Outright Swaps Window 2.59.59.99 3.12.59.99 Within 60 secs 3.15.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas USGC Fuel Oil Outright Barges eWindow 2.45.00.99 3.13.00.99 Within 60 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas USGC Fuel Oil Outright/Spread Swaps eWindow 3.00.00.99 3.15.00.99 Within 30 secs 3.15.00.00 3.15.00.99 3.14.50.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas LPG Outright Pipeline eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas Feedstocks Spread Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Feedstocks Spread Barges Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Gasoline Blendstocks Spread Barges Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Chicago Ethanol Outright Partials/ eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Railcars
Americas USAC Ethanol Outright Barges eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Americas Houston Ethanol Outright Railcars/ eWindow 2.45.00.99 3.13.00.99 Within 30 secs 3.14.01.00 3.15.00.99 3.14.40.99 3.15.00.99 3.15.01.00 3.16.00.99
Barges
Americas Chicago Biodiesel Outright Railcars/ Truck Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Houston Biodiesel Outright Railcars/ Truck Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Ethanol RINs Outright N/A Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Biodiesel RINs Outright N/A Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Advanced Biofuel RINs Outright N/A Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Cellulosic Biofuel RINs Outright N/A Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 3.14.30.00 3.14.59.99 3.15.00.00 3.17.59.99
Americas Crude -- Domestic Spread Pipeline Window 3.04.59.99 3.14.59.99 Within 60 secs N/A 3.14.59.99 N/A N/A N/A N/A
Americas Crude -- Domestic Spread Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 N/A N/A N/A N/A
Americas Crude -- Latin America Spread Cargoes Window 2.29.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 N/A N/A N/A N/A
Americas Bunker Fuels Outright Metric Tons Window 2.44.59.99 3.12.59.99 Within 60 secs 3.13.00.00 3.14.59.99 N/A N/A N/A N/A
All times shown as Eastern Standard Time
- 5. 5COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Americas Oil Increment Guidelines
Physical
Explanation of cargoes,
assessment guideline Outright or partials or Window or Volume of physical The amount and frequency of sequential price movements
categories: spreads paper swaps eWindow or paper contract necessary to test market reaction
Volume Increment
Region Product State Environment Min Max Min Max Unit Frequency
Americas USGC Gasoline Spread Barges eWindow 50,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USGC Gasoline Spread Pipeline eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USGC Gasoline Spread Swaps Window 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USAC Gasoline Spread Barges eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USAC Gasoline Spread Cargoes Window 150,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USAC Gasoline Spread Pipeline eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USAC Gasoline Spread Swaps Window 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USWC Gasoline Spread Pipeline Window 10,000 bbl 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USWC Gasoline Spread Swaps Window 10,000 bbl 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USGC Distillate Spread Barges eWIndow 50,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USGC Distillate Spread Pipeline eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USGC Distillate Spread Swaps Window 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USAC Distillate Spread Barges eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USAC Distillate Spread Cargoes Window 150,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USAC Distillate Spread Pipeline eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas USWC Distillate Spread Pipeline Window 10,000 bbl 25,000 bbl 1 point 25 points cents/gal per 60 secs
Americas USWC Distillate Spread Swaps Window 10,000 bbl 1 point 25 points cents/gal per 60 secs
Americas Midwest Gasoline Spread Pipeline Window 10,000 bbl 1 point 25 points cents/gal per 60 secs
Americas Midwest Distillate Spread Pipeline Window 10,000 bbl* 1 point 25 points cents/gal per 60 secs
Americas USAC Fuel Oil Outright Cargoes Window 120,000 bbl 1 cent 5 cents $/bbl per 60 secs
Americas USAC Fuel Oil Outright Barges Window 25,000 bbl 120,000 bbl 1 cent 5 cents $/bbl per 60 secs
Americas USAC Fuel Oil Outright Swaps Window 25,000 bbl 1 cent 5 cents $/bbl per 60 secs
Americas USGC Fuel Oil Outright Barges eWindow 45,000 bbl 1 cent 5 cents $/bbl per 30 secs
Americas USGC Fuel Oil Outright/Spread Swaps eWindow 25,000 bbl 1 cent 5 cents $/bbl per 15 secs
Americas LPG Outright Pipeline eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas Feedstocks Spread Cargoes Window 200,000 bbl 1 point 25 points cents/gal per 60 secs
Americas Feedstocks Spread Barges Window 50,000 bbl 1 point 25 points cents/gal per 60 secs
Americas Gasoline Blendstocks Spread Barges Window 25,000 bbl 50,000 bbl 1 point 25 points cents/gal per 60 secs
Americas Chicago Ethanol Outright Partials
/Railcars
Americas USAC Ethanol Outright Barges eWindow 25,000 bbl 1 point 25 points cents/gal per 30 secs
Americas Houston Ethanol Outright Railcars/Truck eWindow 10,000 bbl 1 point 25 points cents/gal per 30 secs
Americas Chicago Biodiesel Outright Railcars/Truck Window 700 bbl/150 bbl 1 point 25 points cents/gal per 60 secs
Americas Houston Biodiesel Outright Railcars/Truck Window 700 bbl/150 bbl 1 point 25 points cents/gal per 60 secs
Americas Ethanol RINs Outright N/A Window 1 million RINs 1 point 25 points cts/RIN per 60 secs
Americas Biodiesel RINs Outright N/A Window 250,000 RINs 1 point 25 points cts/RIN per 60 secs
Americas Advanced Biofuel RINs Outright N/A Window 100,000 RINs 1 point 25 points cts/RIN per 60 secs
Americas Cellulosic Biofuel RINs Outright N/A Window 100,000 RINs 1 point 25 points cts/RIN per 60 secs
Americas Crude -- Domestic Spread Pipeline Window 25,000 bbl 2 cents 10 cents $/bbl per 60 secs
Americas Crude -- Domestic Spread Cargoes Window 300,000 bbl 2 cents 10 cents $/bbl per 60 secs
Americas Crude -- Latin America Spread Cargoes Window 350,000 bbl 2 cents 10 cents $/bbl per 60 secs
- 6. 6COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Americas Oil Increment Guidelines continued
Physical
Explanation of cargoes,
assessment guideline Outright or partials or Window or Volume of physical The amount and frequency of sequential price movements
categories: spreads paper swaps eWindow or paper contract necessary to test market reaction
Volume Increment
Region Product State Environment Min Max Min Max Unit Frequency
Americas Bunker Fuels - IFO 380 Los Angeles Outright Vessels Window 1,000mt 3,000mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels - IFO 380 New York Outright Vessels Window 500mt 2,000mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels - IFO 380 Houston Outright Vessels Window 500mt 2,000mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels - IFO 380 Panama Outright Vessels Window 500mt 2,000mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels - IFO 380 Philadelphia Outright Vessels Window 500mt 2,000mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels - IFO 380 New Orleans Outright Vessels Window 300mt 1,500mt $.50/mt $1/mt $/mt per 60 secs
Americas Bunker Fuels -1%S max Outright Vessels Window 100mt 500mt $.50/mt $1/mt $/mt per 60 secs
* For Premium (A-grade) and Jet (Q-grade) 5,000 bbl will be considered for assessment purposes
- 7. 7COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Asia Oil Timing Guidelines
Physical
cargoes,
Explanation of partials or Bids/offers Cut off for Reaction time No more Repeat of an order Period of testing the
assessment guideline Outright or paper Window or due for last price after a trade price Market which triggers extension repeatability of an order
categories: spreads swaps eWindow window entry changes to repeat order changes close of the window traded near close
Region Product State Environment Pricing state Repeatability Final state Extension trigger period Extension state
Asia Naphtha MOPS Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Naphtha MOPS Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Naphtha MOPJ Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Naphtha MOPJ Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Naphtha MOPJ Outright Cargoes eWindow 4.00.00.99 4.29.00.99 Within 60 secs 4.29.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Naphtha MOPJ Spread Cargoes eWindow 3.45.00.99 4.29.00.99 Within 60 secs 4.29.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia LPG Outright Swaps Window 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia LPG Spread Swaps Window 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia LPG Outright Cargoes Window 4.00.00.99 4.28.00.99 Within 60 secs 4.28.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Gasoline Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Gasoline Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Gasoline Outright Cargoes eWindow 4.00.00.99 4.29.00.99 Within 60 secs 4.28.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Jet fuel Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Jet fuel Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Jet fuel Outright Cargoes eWindow 4.00.00.99 4.25.00.99 Within 60 secs 4.25.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Regrade Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Gasoil Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Gasoil Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Gasoil Outright Cargoes eWindow 4.00.00.99 4.25.00.99 Within 60 secs 4.25.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Fuel oil Outright Swaps eWindow 4.20.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Fuel oil Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Viscosity Spread Swaps eWindow 4.15.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Fuel oil Outright Cargoes eWindow 4.00.00.99 4.25.00.99 Within 60 secs 4.25.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Asia Bunkers Outright Cargoes eWindow 5.00.00.99 5.28.00.99 Within 60 secs 5.28.01.00 5.30.00.99 5.29.01.00 5.30.00.99 5.30.01.00 5.33.00.99
Asia LSWR Outright Cargoes Window 4.00.00.99 4.25.00.99 Within 60 secs 4.25.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.33.00.99
Middle East Crude oil Outright Partials eWindow 4.00.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Middle East Crude oil Spread Partial Spreads eWindow 4.00.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Sweet Crude Outright Cargoes eWindow 4.00.00.99 4.29.00.99 Within 60 secs 4.29.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Asia Sweet Crude Outright Partials eWindow 4.00.00.99 4.29.00.99 Within 60 secs 4.29.01.00 4.30.00.99 4.29.01.00 4.30.00.99 4.30.01.00 4.31.00.99
Middle East Sour Crude Outright Cargoes eWindow 4.00.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
Middle East Sour Crude Spread Cargoes eWindow 4.00.00.99 4.30.00.99 Within 60 secs N/A 4.30.00.99 4.29.50.00 4.30.00.99 4.30.01.00 4.31.00.99
All times shown as local time in Singapore
- 8. 8COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
Asia Oil Increment Guidelines
Physical
Explanation of cargoes,
assessment guideline Outright or partials or Window or Volume of physical The amount and frequency of sequential price movements
categories: spreads paper swaps eWindow or paper contract necessary to test market reaction
Volume Increment
Region Product State Environment Min Max Days ahead Min Max Unit Frequency
Asia Naphtha MOPS Outright Swaps eWindow 50,000 b 1 cent 10 cents $/barrel per 30 secs
Asia Naphtha MOPS Spread Swaps eWindow 50,000 b 1 cent 10 cents $/barrel per 30 secs
Asia Naphtha MOPJ Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 30 secs
Asia Naphtha MOPJ Spread Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 30 secs
Asia Naphtha MOPJ Outright Cargoes eWindow 25,000 mt 45-105 days 25 cents 100 cents $/mt per 30 secs
Asia Naphtha MOPJ Spread Cargoes eWindow 25,000 mt 45-105 days 25 cents 100 cents $/mt per 30 secs
Asia LPG Outright Swaps Window 5,000 mt 25 cents 100 cents $/mt per 60 secs
Asia LPG Spread Swaps Window 5,000 mt 25 cents 100 cents $/mt per 60 secs
Asia LPG Outright Cargoes Window 22,000 mt 30-90 days 25 cents 100 cents $/mt per 60 secs
Asia Gasoline Outright Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Gasoline Spread Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Gasoline Outright Cargoes eWindow 50,000 b 150,000 b 15-30 days 1 cent 10 cents $/barrel per 30 secs
Asia Jet fuel Outright Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Jet fuel Spread Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Jet fuel Outright Cargoes eWindow 100,000 b 250,000 b 15-30 days 1 cent 10 cents $/barrel per 60 secs
Asia Regrade Spread Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Gasoil Outright Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Gasoil Spread Swaps eWindow 50,000 barrels 1 cent 10 cents $/barrel per 30 secs
Asia Gasoil Outright Cargoes eWindow 150,000 b 250,000 b 15-30 days 1 cent 10 cents $/barrel per 60 secs
Asia Fuel oil Outright Swaps eWindow 5,000 mt 25 cents 100 cents $/mt per 30 secs
Asia Fuel oil Spread Swaps eWindow 5,000 mt 25 cents 50 cents $/mt per 30 secs
Asia Viscosity Spread Swaps eWindow 5,000 mt 25 cents 50 cents $/mt per 30 secs
Asia Fuel oil Outright Cargoes eWindow 20,000 mt 40,000 mt 15-30 days 25 cents 100 cents $/mt per 60 secs
Asia Bunkers Outright Cargoes eWindow 50 mt 6,000 mt 3-15 days 25 cents 100 cents $/mt per 60 secs
Asia LSWR Outright Cargoes Window 100,000 b 200,000 b 15-30 days 1 cent 10 cents $/barrel per 60 secs
Middle East Crude oil Outright Partials eWindow 25,000 b Month+2 1 cent 10 cents $/barrel per 15 secs
Middle East Crude oil Spread Partial Spreads eWindow 25,000 b Month+2 1 cent 10 cents $/barrel per 15 secs
Asia Sweet Crude Outright Cargoes eWindow 100,000 b 650,000 b Month+2 1 cent 10 cents $/barrel per 30 secs
Asia Sweet Crude Outright Partials eWindow 25,000 b Month+2 1 cent 10 cents $/barrel per 30 secs
Middle East Sour Crude Outright Cargoes eWindow 500,000 b Month+2 1 cent 10 cents $/barrel per 30 secs
Middle East Sour Crude Spread Cargoes eWindow 500,000 b Month+2 1 cent 10 cents $/barrel per 30 secs
- 9. 9COPYRIGHT © 2015 BY PLATTS, McGRAW HILL FINANCIAL
METHODOLOGY AND SPECIFICATIONS GUIDE OIL TIMING AND INCREMENT GUIDELINES: AUGUST 2015
REVISION HISTORY
August 2015: Platts updated this guide to correct a typo in the listing for Asia gasoline cargoes for the cut off
for last price changes and to reflect the introduction of eWindow technology for European gasoil and diesel
physical barges.
August, 2013: Platts revamped all Oil Methodology And Specifications Guides, including its Oil Timing &
Increments Guidelines, in August 2013. This revamp was completed to enhance the clarity and usefulness of all
guides, and to introduce greater consistency of layout and structure across all published methodology guides.
Methodologies for market coverage were not changed through this revamp, unless specifically noted in the
methodology guide itself.
![[OIL ]
METHODOLOGY AND SPECIFICATIONS GUIDE
OilTiming and Increment Guidelines
(Latest Update: August 2015)
EUROPE OIL TIMING GUIDELINES 2
EUROPE OIL INCREMENT GUIDELINES 3
AMERICAS OIL TIMING GUIDELINES 4
AMERICAS OIL INCREMENT GUIDELINES 5
ASIA OIL TIMING GUIDELINES 7
ASIA OIL INCREMENT GUIDELINES 8
REVISION HISTORY 9](https://image.slidesharecdn.com/oil-timing-increment-guidelines-160205134247/85/Oil-timing-increment-guidelines-PLATTS-1-320.jpg)
