Platts Begins Follow-the-Sun Forward Price Curves In Oil And Expands Americas Oil Forward Curve Offering
LONDON, Feb. 27, 2013 /PRNewswire/ -- Platts, a leading global energy, petrochemicals and metals information provider, has expanded its offering of forward-dated price assessments, known as forward curves, for crude oil and refined products. Just launched is a new Platts Follow-the-Sun series of global price curves and an extension of the time period captured in the Americas curves data.
"The appetite for hedging price risk in crude oil and refined products is ever expanding and the industry has asked Platts to provide price discovery further and further into the future," said Marc Karstaedt, Platts senior director, global trading services. "We believe our expanded time series of Americas curves and the new Follow-the-Sun series will go a long way to meeting the needs of the global oil trading community."
Companies with exposure to commodity prices typically utilize forward price curves as references for valuing contractual assets and liabilities, measuring profit and loss resulting from changes in market prices and making better informed risk management decisions.
New Global Series of Follow-the-Sun Forward CurvesThe Platts Follow-the-Sun oil forward price curves supplement Platts' existing assessments of the global oil markets published three times daily as the Platts Forward Curve (PFC)-Oil series and encompassing crude oil and refined products markets in the Americas, Asia and Europe, Middle East and Africa (EMEA). The PFC-Oil Asia and PFC-Oil EMEA series reflect prices assessed by Platts at the close of market trading at 4:30 p.m. in Singapore and London, respectively. The PFC-Oil Americas series reflect market-on-close assessments at 3:15 p.m. in New York. All assessments reflect prices as determined between buyer and seller in the open market. The Follow-the-Sun oil forward price curves better enable corporations with activities spanning the global oil markets to choose a single end-of-day time stamp to evaluate their performance, measure risk and calculate profit and loss. They also help address the challenge of reconciling mark-to-market price differences resulting from calculations using forward price curves with different regional time stamps.
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