Platts Expands its Forward-Dated European Oil Price Assessments

LONDON, Feb. 20, 2012 /PRNewswire/ -- Platts -- Platts, a leading global energy, petrochemicals and metals information provider, today announced it has significantly expanded its suite of European forward-dated price assessments for crude oil and refined products, adding more than 1,100 new data points to more than 40 forward curves.

"In these times of heightened market volatility and global uncertainty, Platts is pleased to meet the industry's need for price transparency further out the curve of Europe's over-the-counter (OTC) oil swaps markets," said Dave Ernsberger, Platts global director of oil. A swap is an agreement between two parties whereby a notional amount is exchanged between the two parties. Typically, the first party pays a floating price and the other pays a fixed price over a specified period of time.

Platts now publishes assessments for a total of 36 months, 12 calendar quarters and three calendar years forward for certain refined products swaps, and a total of 24 months, eight calendar quarters and two calendar years forward for many others.  Prior to this, Platts' price assessments for refined products forward curves were limited to six months forward.  

The full Platts Forward Curve (PFC)-Oil series, encompassing Asian, European and U.S. oil markets, now includes more than 2,300 data points.

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.

"The developments to the European curves follow similar Platts enhancements to the PFC-Oil Asia curves that commenced publication in August 2011," said Paul Waine, director of Platts risk data services.  "The regulatory environment is such that independent forward curves are increasingly important for the risk management and financial controls of companies in the energy and commodity trading sectors and Platts not only understands these challenges, but we're committed to further developing our oil forward curves data to meet the growing needs of our customers." 

Platts' extended curves assessments are underpinned by Platts' rigorous, well defined methodology and specifications guidelines and are published daily in Platts Forward Curve (PFC) Oil EMEA [Europe, Middle East, Africa], which contains swaps assessments for fuel oil, middle distillates, gasoline and naphtha, as well as crude oil and crack spreads.

Through its risk management data services, Platts provides clients with a full and independent view of forward price assessments for natural gas, power, oil, and coal in regions around the world. In addition to more than 200 forward curve price assessments, Platts publishes more than 9,500 benchmark price assessments, references, and indexes in energy, petrochemicals, and metals on a daily basis. 

Platts announced its expanded forward curves offering at the Platts Oil Forum, which opened the Energy Institute's International Petroleum Week in London, one of the key events of the industry year. 

For more information on Platts oil forward curves, natural gas forward curves, power forward curves, coal forward curves, risk management data and other products and services in energy, petrochemicals and metals, visit the Platts website at www.platts.com. 

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for those markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in 150 countries benefit from Platts' coverage of the oil, petrochemicals, natural gas, electricity, coal, nuclear power, shipping, and metals markets. A division of The McGraw-Hill Companies, Platts has approximately 900 employees in more than 15 offices worldwide.

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

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SOURCE Platts