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The Platts assessment process determines the value of physical commodities 15–30 days forward for many oil products loading in Singapore. [1]MOPS is an acronym that stands for the Mean of Platts Singapore, and typically refers to any contract mechanism that derives its value by referencing the average of a set of Singapore-based oil price assessments published by Platts.
Tapis crude is a Malaysian crude oil used as a pricing benchmark in Singapore. Tapis is very light, with an API gravity of 43°-45°, and very sweet , with only about 0.04% sulfur. [ 1 ] [ 2 ] While it is not traded on a market like Brent Crude or West Texas Intermediate (WTI), it is often used as an oil marker or price referencing indicator ...
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
Thirty-one U.S. states now have average gas prices below $3 a gallon. U.S. oil price levels of $70 or less “are great for consumers,” said AAA spokesman Andrew Gross. Crude oil makes up about ...
In 2016, when McGraw-Hill changed its name to S&P Global, the Platts division was renamed S&P Global Platts. Platts' first significant acquisition came in 2001, when it acquired FT Energy. [7] That acquisition gave it the Platts Global Energy Awards, considered one of the industry's biggest awards event, held every December in New York. [8]
“There’s a much much larger risk of a big price drop to $50 or $60 than there is to something like the $80+ range," Tom Kloza, OPIS global head of energy analysis told Yahoo Finance.
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.
By Leah Douglas and Julie Steenhuysen (Reuters) -California's public health department reported a possible case of bird flu in a child with mild respiratory symptoms on Tuesday, but said there was ...