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PLATTS US MARKETSCAN
Volume 48 / Issue 104 / June 1, 2022

ATLANTIC COAST
Code Mid Change Code Code Mid Change Code Code Mid Change
New York Harbor (PGA page 152)
Delivered cargo (¢/gal) RVP FOB barge RVP Differential to NYMEX
Unleaded 87 AAMHG00 418.86–418.96 418.910 +15.540 AAMHGRV 9.0
CBOB AAWBL00 416.11–416.21 416.160 +16.090 AAWBLRV 9.0 AANYX14 9.000 +0.550
Prem CBOB AAWLC00 487.61–487.71 487.660 +18.690 AAWLCRV 9.0 AANYX16 80.500 +3.150
Unleaded RBOB AAVKS00 423.66–423.76 423.710 +16.090 AAVKSRV 7.4 AAMGV00 420.91–421.01 420.960 +16.090 AAMGVRV 7.4 AANYX15 13.800 +0.550
Premium RBOB AAMGY00 487.61–487.71 487.660 +18.690 AAMGYRV 7.4 AANYX17 80.500 +3.150
ULS Kero AAVTI00 410.03–410.13 410.080 +7.830 ADJKH00 -4.250 -13.000
Low sulfur jet PJABJ00 405.03–405.13 405.080 +7.830 ADIHA00 -9.250 -13.000
Jet PJAAW00 404.03–404.13 404.080 +7.830 ADIGA00 -10.250 -13.000
ULSD AATGX00 420.53–420.63 420.580 +22.580 ADIZA00 6.250 +1.750
No. 2 POAEG00 367.78–367.88 367.830 +20.830 ADIAO00 -46.500 0.000
ULS Heating Oil AAXPX00 408.330 +22.580 ADIAQ00 -6.000 +1.750
Delivered cargo ($/barrel) diff vs 1% strip
No. 6 1% PUAAO00 105.29–105.31 105.300 -0.820 AAUGD00 0.020 MARKET COMMENTARY
USAC HSFO PUAAX00 101.08–101.10 101.090 -1.220 AAUGF00 -4.190
No. 6 1% strip AAUGG00 105.27–105.29 105.280 -0.820

Swaps Platts US Gasoline Daily Market Analysis

No.6 1% BalMo (Jun) AARZS00 105.20–105.30 105.250 +2.000
No.6 1% M1 (Jul) PUAXD00 104.40–104.50 104.450 -1.600
■ New York Governor announces fuel tax holiday
No.6 1% M2 (Aug) PUAXF00 103.50–103.60 103.550 -1.700
No.6 1% Q1 ( Q3 22) PUAXG00 103.42–103.52 103.470 -0.800 for seven months
Cargo ex-duty* (¢/gal) duty+RINS** ■ Gulf Coast RBOB strengthens 3.15 cents against
Unl-87 AASAA00 398.36–398.46 398.410 +14.480 AASAH00 20.500 underlying futures contract
Unl RBOB AASAF00 403.16–403.26 403.210 +15.040 AASAM00 20.500

120k barrel fuel oil barge rate ($/barrel)

NYH-Boston AASTV00 2.300 On the Atlantic Coast, gasoline differentials and outright
NYH-Philadelphia AASTX00 2.200 prices once again rose on June 1 on a stronger underlying
NYH-Baltimore AASTW00 1.950
*These assessments reflect gasoline cargoes sold on a delivered, ex-duty basis New York, excluding import duty, import taxes/fees, and Renewable Identification Number
contract.
(RINS) credits. **These assessments reflect import duty, import fees, and the value of RINS credits for a gasoline cargo sold into New York Harbor. The RINs value is derived Outright prices continued to surge far past the $4/gal
from Platts assessments of current RINs.
mark on June 1, with regular barge and Buckeye CBOB and
CPL Linden* (PGA page 410)
RBOB rising 16.09 cents/gal and premium CBOB and RBOB
(¢/gal) Differential to NYMEX RVP Cycle
prices spiking 18.69 cents/gal higher.
Unleaded 87 ACXPW00 418.910
+15.540 AANYX40 11.750 0.000 ACRQWRV 9.0 ACRQWCY 28
CBOB ABXPW00 393.160
+15.540 AANYX41 -14.000 0.000 ABRQWRV 10.0 ABRQWCY 28 Some price relief does appear to be in store, at least
RBOB ADXPW00 419.160
+15.540 AANYX42 12.000 0.000 ADRQWRV 7.4 ADRQWCY 28 for customers at the pump, after New York Governor Kathy
Jet kero 54 AAXPV00 404.080 +7.830 ADIJA00 -10.250 -13.000 AAXPVCY 28
ULS Heating Oil AAXPU00 404.280
+21.830 ADIAR00 -10.050 +1.000 AAXPUCY 28 Hochul announced the start of statewide gas and diesel
ULSD AAXPW00 420.080
+21.830 ADLAA00 5.750 +1.000 AAXPWCY 28 fuel tax holiday for the next seven months. New York is the
*Assessments reflect shipments on the next full pipeline cycle after the prompt cycle.
fourth largest gasoline consuming state in the US.

www.spglobal.com/commodityinsights
PLATTS US MARKETSCAN JUNE 1, 2022
New York Harbor barge and Buckeye pipeline CBOB
differentials were up 0.55 points/gal on June 1 to plus 9
cents/gal and plus 8.40 cents/gal, respectively, while barge
and Buckeye RBOB differentials also were up 0.55 points/
gal to plus 13.80 cents/gal each.
Premium barge and Buckeye RBOB and CBOB
differentials jumped 3.15 cents/gal higher on June 1 to plus
80.50 cents/gal.
Meanwhile, Colonial Pipeline CBOB, RBOB and
conventional unleaded 87 differentials all were assessed
unchanged on the day.
Contrary to the Linden end, the Gulf Coast RBOB
differential rose 3.25 cents/gal to close flat to NYMEX
July RBOB.
“Demand is good in PADD 1, still people on holiday, and
stocks very low for RBOB there,” a trader said.
Despite the strength of RBOB, the Colonial Pipeline
space value was unchanged at plus 4.75 cents/gal.
The regrade of premium RBOB over RBOB narrowed 25
points to 54.75 cents/gal, based on a competitive offer for
the premium differential.
On the low octane side, CBOB fell 2.75 cents/gal to July
futures minus 31.25 cents/gal, and unleaded 87 shed 3.25
cents/gal to futures minus 1.75 cents/gal.
Midwest gasolines prices showed double digit gains
June 1 setting record highs for the third consecutive day.
Chicago pipeline and Buckeye Complex CBOB rose 20.79
cents to $4.1016/gal, an all-time record high since Platts
began assessing Chicago CBOB in September 2009.
Their differentials rose 5.25 cents to NYMEX July RBOB
plus 3 cents/gal after pricing below the prompt futures
contract since Oct. 12, 2021.
Tulsa suboctane rose 17.54 to $3.8966/gal, or up 2 cents
to NYMEX July RBOB minus 17.50 cents/gal.
The Tulsa premium unleaded 93 (A grade) regrade over
suboctane (V grade) widened by 11 cents to 47.50 cents/gal
as a market source noted limited refinery selling.
A grade rose 28.54 cents to $4.3716/gal, or up 13 cents
to NYMEX July RBOB plus 30 cents/gal.
© 2022 by S&P Global Inc. All rights reserved. 2
ATLANTIC COAST (continued)
Code Mid Change Code Mid Change Code Code
Buckeye Pipeline (PGA page 154)
(¢/gal) RVP
CBOB AAPSY00 415.51–415.61 415.560 +16.090 AANYX33 8.400 +0.550 AAPSYRV 9.0
CBOB Prem AAPSZ00 487.61–487.71 487.660 +18.690 AANYX34 80.500 +3.150 AAPSZRV 9.0
CBOB-PA AAVYA00 393.11–393.21 393.160 +15.540 AANYX37 -14.000 0.000 AAVYARV 10.0
CBOB-PA Prem AAVYB00 479.36–479.46 479.410 +18.690 ADLAL00 72.250 +3.150 AAVYBRV 10.0
Unleaded RBOB AAMHB00 420.91–421.01 420.960 +16.090 AANYX35 13.800 +0.550 AAMHBRV 7.4
Premium RBOB AAMHZ00 487.61–487.71 487.660 +18.690 AANYX36 80.500 +3.150 AAMHZRV 7.4
Jet fuel AAJNL00 404.03–404.13 404.080 +7.830 ADIEA00 -10.250 -13.000
Low sulfur jet/kerosene AAJNN00 405.03–405.13 405.080 +7.830 ADIFA00 -9.250 -13.000
ULSD AATHF00 420.53–420.63 420.580 +22.580 ADIYA00 6.250 +1.750
Laurel Pipeline (PGA page 154)
(¢/gal) RVP
CBOB AAUAS00 393.11–393.21 393.160 +15.540 AANYX29 -14.000 0.000 AAUASRV 10.0
Premium CBOB AAUAT00 479.36–479.46 479.410 +18.690 AANYX30 72.250 +3.150 AAUATRV 10.0
California gasoline differentials fell June 1 even as PBF’s Pipeline at NYMEX July RBOB plus 3 cents/gal. There were
160,000 b/d Torrance, California, refinery reported flaring on a no positions in the Platts Market on Close assessment
filing with the South Coast Air Quality Management District. process.
The San Francisco CARBOB differential fell 11 cents to Gasoline Unl Sub Octane Group 3 Pipeline <AAXIX00>
NYMEX July RBOB plus 48 cents/gal as its outright price assessment rationale:
rose 4.54 cents to $4.5516/gal. Platts assessed 9 RVP Group 3 suboctane on June 1
The Los Angeles CARBOB differential dipped 3 cents based on a withdrawn offer at NYMEX July RBOB minus
to July futures plus 34 cents/gal, or $4.4121/gal. Premium 17.50 cents/gal in the Platts Market on Close assessment
LA CARBOB rose 2 cents to futures plus 54 cents/gal process.
as sources reported the premium regrade over regular Exclusions: No market data was excluded from the
CARBOB trading at 20 cents/gal, up from 15 cents/gal. June 1 assessment process.
Arizona RBOB widened its premium over LA CARBOB by
6.25 cents to 21.75 cents/gal as sources reported it trading
Platts US Midwest Gasoline Chicago CBOB
and reoffered at July futures plus 56 cents/gal.
Bids, Offers, Trades
Platts US Midwest Gasoline Assessment Bids: No bids.
Rationales & Exclusions: Chicago CBOB, Group 3 Offers: No offers.
Sub Octane Trades: No trades.
Gasoline Chicago CBOB Pipe <AAREL00> assessment This assessment commentary applies to the following
rationale: market data codes: Chicago CBOB <AAREL00> Chicago
Platts assessed 9 RVP C1 Chicago pipeline CBOB on Unleaded 87 <PGACR00>
June 1 based on a trade heard in the market for Wolverine
PLATTS US MARKETSCAN JUNE 1, 2022

GULF COAST
Code Mid Change Code Mid Change Code Code Code Mid
Change Code
Houston (PGA page 156)
Prompt Pipeline Differential to NYMEX Cycle RVP Waterborne (¢/gal) RVP
Unleaded 87 PGACT00 405.36–405.46 405.410 +12.290 AANY105 -1.750 -3.250 PGACTCY 32 PGACTRV 9.0 PGACU00 408.11–408.21 408.160 +12.040 PGACURV 9.0
Unleaded 89 PGAAY00 422.96–423.06 423.010 +12.290 PGAAYCY 32 PGAAYRV 9.0 PGAAZ00 425.71–425.81 425.760 +12.040 PGAAZRV 9.0
Unleaded 93 PGAJB00 449.36–449.46 449.410 +12.290 AANYX76 42.250 -3.250 PGAJBCY 32 PGAJBRV 9.0 PGAIX00 452.11–452.21 452.160 +12.040 PGAIXRV 9.0
CBOB 87 AARQU00 375.86–375.96 375.910 +12.790 AANYX77 -31.250 -2.750 AARQUCY 32 AARQURV 10.0 AAWES00 378.61–378.71 378.660 +12.540 AAWESRV 10.0
CBOB 93 AARQV00 432.36–432.46 432.410 +12.790 AANYX78 25.250 -2.750 AARQVCY 32 AARQVRV 10.0 AGWBB00 435.160 +12.540 AGWBBRV 10.0
RBOB 83.7 AAMFB00 407.11–407.21 407.160 +18.790 AANYX79 0.000 NANA AAMFBCY 32 AAMFBRV 7.4
RBOB 91.4 AAMNG00 461.86–461.96 461.910 +18.540 AANYX80 54.750 +3.000 AAMNGCY 32 AAMNGRV 7.4
Jet 54 PJABO00 391.03–391.13 391.080 +19.580 ADIAS00 -23.250 -1.250 PJABOCY 32 PJABM00 393.03–393.13 393.080 +19.580
Jet 55 PJABP00 392.03–392.13 392.080 +19.580 ADIAZ00 -22.250 -1.250 PJABPCY 32 PJABN00 394.03–394.13 394.080 +19.580
ULS Kero AAVTL00 400.03–400.13 400.080 +19.580 ADICA00 -14.250 -1.250 AAVTLCY 32 AAVTK00 402.03–402.13 402.080 +19.580
Ultra low sulfur diesel AATGY00 410.03–410.13 410.080 +20.530 ADIQA00 -4.250 -0.300 AATGYCY 32 AATGZ00 413.03–413.13 413.080 +20.530
No. 2 POAED00 386.53–386.63 386.580 +19.580 ADIAA00 -27.750 -1.250 POAEDCY 32 POAEE00 387.53–387.63 387.580 +19.580
ULS Heating Oil AAXFD00 391.48–391.58 391.530 +19.480 ADIAI00 -22.800 -1.350 AAXFDCY 32
Waterborne vs Prompt Pipeline (¢/gal)
Jet Spread AUSGL00 2.000 0.000
ULSD Spread AUSGN00 3.000 0.000
No. 2 Spread AUSGM00 1.000 0.000
Waterborne ex RVO (¢/gal) RVP
Unleaded 87 AGWBD00 389.620 +11.000 AGWBDRV 9.0
Unleaded 93 AGWBE00 433.620 +11.000 AGWBERV 9.0
CBOB 87 AGWBA00 360.120 +11.500 AGWBARV 10.0
CBOB 93 AGWBC00 416.620 +11.500 AGWBCRV 10.0
ULSD AGWBF00 394.541 +19.492
FOB Cargo (¢/gal) FOB Cargo ($/mt)
Export ULSD AAXRV00 397.390 +20.260 AAXRW00 1243.430
+63.390
FOB Cargo vs forward pipe strip (¢/gal)
ULSD Mexico AUSGH00 4.000 0.000
ULSD Brazil AUSGA00 5.000 0.000
ULSD EN590 AUSGB00 5.500 0.000
Jet A AUSGC00 2.000 0.000
Jet A-1 AUSGD00 2.500 0.000
Colonial Pipeline Gasoline Line Space Cycle
Line 1 AAXTA00 4.750 0.000 AAXTACY 32
Line 3 AAXTB00 0.000 0.000 AAXTBCY 32
Line 1+3 AAXTC00 4.750 0.000 AAXTCCY 32
Colonial Pipeline Distillates Line Space
Line 2 AAXTD00 0.000 -2.500 AAXTDCY 32
Line 3 AAXTE00 0.000 0.000 AAXTECY 32
Line 2+3 AAXTG00 0.000 -2.500 AAXTGCY 32
($/barrel) diff vs USGC HSFO strip
Slurry Oil PPAPW00 120.84–120.86 120.850 -0.940 AAUGS00 25.410
No. 6 1% 6ºAPI min PUAAI00 106.62–106.64 106.630 -0.540 AAUGT00 11.190
USGC HSFO PUAFZ00 95.84–95.86 95.850 -0.940 AAUGU00 0.410
RMG 380 PUBDM00 95.84–95.86 95.850 -0.940 AAUGV00 0.410
USGC HSFO strip AAUGW00 95.43–95.45 95.440 -1.220
Swaps
USGC HSFO swap BalMo(Jun) AARZT00 95.30–95.40 95.350 -0.400
USGC HSFO swap M1(Jul) PUAXJ00 94.50–94.60 94.550 -2.000
USGC HSFO swap M2(Aug) PUAXL00 93.85–93.95 93.900 -1.850
USGC HSFO swap Q1( Q3 22) PUAXN00 93.82–93.92 93.870 -1.010

© 2022 by S&P Global Inc. All rights reserved. 3

PLATTS US MARKETSCAN JUNE 1, 2022
Platts USGC Gasoline Unl 87, CBOB Assessment
Rationales & Exclusions
Gasoline Unl 87 USGC Prompt Pipeline <PGACT00>
assessment rationale:
Platts assessed pipeline-delivered 9.0 RVP conventional
unleaded gasoline (M2) June 1 based trades at NYMEX July
RBOB minus 1.75 cents/gal in the Platts Market on Close
assessment process.
Gasoline CBOB 87 USGC Houston Prompt Pipeline
<AARQU00> assessment rationale:
Platts assessed pipeline-delivered 10.0 RVP CBOB (A2)
on June 1 based on a trade at NYMEX July RBOB minus
31.25 cents/gal in the Platts Market on Close assessment
process.
Exclusions: No data was excluded from the June 1 Platts
Market on Close assessment process.
Platts US Atlantic Coast Gasoline RBOB Barge
Daily Rationale & Exclusions
Gasoline RBOB NY Barge <AAMGV00> assessment
rationale:
Platts assessed 7.4 RVP New York Harbor RBOB barge
on June 1 based on trades heard for June 4 and June 5 at
the NYMEX July RBOB contract plus 14 cents/gal, a trade for
June 7 heard at plus 13.75 cents/gal and a backwardated
market. There were no 7.4 RVP New York Harbor RBOB
barge positions in the Platts Market on Close assessment
process.
No data was excluded from the June 1 assessment
process.
Platts US Jet Fuel Daily Market Analysis
■ Regional differentials decrease
■ Delta updates fuel cost estimates
US jet fuel differentials saw moderate declines June
1 despite Delta Air Lines reporting a rise in projected
fuel costs.
© 2022 by S&P Global Inc. All rights reserved. 4
GULF COAST (continued)
(PGA page 330)
Code Mid Change Code Mid Change
USGC RVP Adjustments (¢/gal)
CBOB -1 psi AGLOB00 12.000 +2.300
Prem CBOB -1 psi AGLOC00 12.000 +2.300
CBOB +1 psi AGLOA00 -5.000 +0.350
Prem CBOB +1 psi AGHOA00 -5.000 +0.350
East Texas (PGA page 330)
FOB Houston (¢/gal) Differential to NYMEX RVP
CBOB AESTA00 402.310 +17.850 AESTC00 -4.850 +2.310 7.800
Prem CBOB AESTB00 458.810 +17.850 AESTD00 51.650 +2.310 7.800
Note: Platts line space assessments reflect the physical trade of gasoline or distillates at two locations agreed upon by the parties along the Colonial Pipeline between
Pasadena, Texas, and Linden, New Jersey. The assessments represent the premium or discount paid by a buyer while taking refined product off the line at one location
while giving product to the seller at another.
Houston extended pipeline cycle assessments (PGA page 156)
Pipeline Cycle RVP
Unleaded 87 Front Cycle 1 AAELC00 405.36–405.46 405.410 AAELCCY 32 AAELCRV 9.0
Unleaded 87 Front Cycle 2 AAELD00 403.36–403.46 403.410 AAELDCY 33 AAELDRV 9.0
Unleaded 87 Front Cycle 3 AAELE00 401.36–401.46 401.410 AAELECY 34 AAELERV 9.0
Unleaded 87 Front Cycle 4 AAELF00 399.36–399.46 399.410 AAELFCY 35 AAELFRV 9.0
Unleaded 87 Front Cycle 5 AAELG00 397.36–397.46 397.410 AAELGCY 36 AAELGRV 9.0
Unleaded 87 Front Cycle 6 AAELH00 395.36–395.46 395.410 AAELHCY 37 AAELHRV 9.0
CBOB 87 Front Cycle 2 AARQW00 374.910 AARQWCY 33 AARQWRV 10.0
CBOB 87 Front Cycle 3 AARQX00 373.910 AARQXCY 34 AARQXRV 10.0
CBOB 87 Front Cycle 4 AARQY00 372.910 AARQYCY 35 AARQYRV 10.0
CBOB 87 Front Cycle 5 AARQZ00 371.910 AARQZCY 36 AARQZRV 10.0
CBOB 87 Front Cycle 6 AARQA00 370.910 AARQACY 37 AARQARV 10.0
Jet kerosene Front Cycle 1 AAELQ00 391.03–391.13 391.080 AAELQCY 32
Jet kerosene Front Cycle 2 AAELR00 391.48–391.58 391.530 AAELRCY 33
Jet kerosene Front Cycle 3 AAELS00 392.48–392.58 392.530 AAELSCY 34
Jet kerosene Front Cycle 4 AAELT00 393.48–393.58 393.530 AAELTCY 35
Jet kerosene Front Cycle 5 AAELU00 394.48–394.58 394.530 AAELUCY 36
Jet kerosene Front Cycle 6 AAELV00 392.98–393.08 393.030 AAELVCY 37
Ultra LS diesel Front Cycle 1 AAUJV00 410.03–410.13 410.080 AAUJVCY 32
Ultra LS diesel Front Cycle 2 AAUJW00 409.93–410.03 409.980 AAUJWCY 33
Ultra LS diesel Front Cycle 3 AAUJX00 409.83–409.93 409.880 AAUJXCY 34
Ultra LS diesel Front Cycle 4 AAUJY00 409.73–409.83 409.780 AAUJYCY 35
Ultra LS diesel Front Cycle 5 AAUJZ00 409.63–409.73 409.680 AAUJZCY 36
Ultra LS diesel Front Cycle 6 AAUKD00 407.88–407.98 407.930 AAUKDCY 37
No. 2 Front Cycle 1 AAELW00 386.53–386.63 386.580 AAELWCY 32
ULS Heating Oil Front Cycle 1 AAXFJ00 391.48–391.58 391.530 AAXFJCY 32
ULS Heating Oil Front Cycle 2 AAXFK00 391.38–391.48 391.430 AAXFKCY 33
ULS Heating Oil Front Cycle 3
ULS Heating Oil Front Cycle 4
AAXFL00 391.28–391.38 391.330
AAXFM00 391.18–391.28 391.230
AAXFLCY 34
AAXFMCY 35
ULS Heating Oil Front Cycle 5 AAXFN00 391.08–391.18 391.130 AAXFNCY 36
ULS Heating Oil Front Cycle 6 AAXFP00 389.33–389.43 389.380 AAXFPCY 37
Please note: Front Cycle 1 was formerly described as prompt front; Front Cycle 2 was formerly described as prompt back; Front Cycle 3 was formerly described as next
front; Front Cycle 4 was formerly described as next back; Front Cycle 5 was formerly described as after front; Front Cycle 6 was formerly described as after back
Forward pipeline strip (PGF page 156)
ULSD 15-30 Day AUSGI00 407.810
+20.730
ULSD 21-35 Day AUSGJ00 405.980
+20.340
ULSD 7-21 Day AUSGK00 410.430
+21.300
Jet Fuel 15-30 Day AUSGE00 392.560
+19.610
Jet Fuel 21-35 Day AUSGF00 391.040
+19.500
Jet Fuel 7-21 Day AUSGG00 394.920
+19.780
PLATTS US MARKETSCAN JUNE 1, 2022
US Gulf Coast jet fuel for benchmark Colonial Pipeline
was assessed by Platts June 1 at NYMEX July ULSD futures
minus 23.25 cents/gal, a day-on-day decline of 1.25 cents.
Activity prior to the Platts Market on Close assessment
process showed few indications of potential market
trajectory.
New York jet fuel for Buckeye Pipeline witnessed one of
the largest differential drops of the day, assessed by Platts
at plus NYMEX July ULSD futures minus 10.25 cents/gal, a
13-cent reduction. One source said this sharp decline could
be a result of excess barrels making their way north. No
activity was seen in the MOC process.
Platts assessed Los Angeles jet fuel at NYMEX July
ULSD futures plus 7.25 cents/gal, marking a 1.25-cents drop
and the a decline for the second day in a row so far this
week. Market participants were seen shopping multiple
offers with no activity seen in MOC.
Group 3 jet fuel was assessed by Platts June 1 based at
NYMEX July ULSD futures plus 17.75 cents/gal, falling 15.50
cents from the previous assessment.
In industry news, Delta Air Lines increased its fuel cost
forecasts for the second quarter amid the growing surge
in global crude costs as the EU looked to move on from
Russian oil dependency.
“Fuel price per gallon is expected to be $3.60 to $3.70,
higher than initial guidance due to market prices for Brent
and cracks,” Delta said in a statement.
Platts USGC Jet 54 and Gasoil No.2 Daily
Rationales and Exclusions
Jet Kero 54 USGC Prompt Pipeline <PJABO00>
assessment rationale:
US Gulf Coast jet fuel for Colonial Pipeline was assessed
June 1 in line with trades seen at NYMEX July ULSD futures
minus 23.25 cents/gal in the Platts Market on Close
assessment process.
Gasoil No.2 USGC Prompt Pipeline <POAED00>
assessment rationale:
US Gulf Coast No. 2 gasoil for Colonial Pipeline’s prompt
cycle was assessed June 1 at the NYMEX July ULSD futures
© 2022 by S&P Global Inc. All rights reserved. 5
GULF COAST (continued)
Code Mid
Change Code Mid Change
Feedstocks and Blendstocks (PGF page 760)
USGC FOB Cargo
Naphtha (¢/gal) AAXJP00 221.70–221.80 221.750 -0.500
Naphtha ($/mt) AAXJU00 838.17–838.27 838.220 -1.890
Naphtha USGC vs Naphtha MOPJ ($/mt) ANAPD00 -25.250 +25.750
Japan Cargo Financial Naphtha at Houston close ($/mt)
MOPJ strip ANAPE00 863.500 -27.500
Naphtha C+F BalMo ANABM00 847.500 -100.250
Naphtha C+F Mo01 ANAPA00 858.000 -26.000
Naphtha C+F Mo02 ANAPB00 863.500 -26.750
Naphtha C+F Mo03 ANAPC00 865.750 -26.250
vs Mont Belvieu
DAP Parcel 3-15 days (¢/gal) non-Targa natural gasoline (¢/gal)
Light Straight Run Naphtha AAXQK00 221.750 -0.500 AAXQN00 7.000 0.000
DAP Parcel 3-15 days ($/mt)
Light Straight Run Naphtha AAXQM00 889.220 -2.000
Barge 5-15 days (¢/gal)
Naphtha AALPG00 275.61–275.71 275.660 +15.640
Heavy Naphtha AALPI00 279.61–279.71 279.660 +15.640
Barge 5-15 days (¢/gal)
MTBE PHAKX00 519.03–519.13 519.080 +15.540
DAP barge (¢/gal) vs waterborne 87 (¢/gal) vs pipeline 87 (¢/gal)
Alkylate AAXBA00 480.61 +15.540 AAFIE00 75.50 AAXBD00 78.250
Raffinate AAXBB00 323.61 +15.540 AAJMU00 -81.50 AAXBE00 -78.750
Reformate AAXBC00 560.61 +15.540 AAJMV00 155.50 AAXBF00 158.250
Gas Liquids (PGA page 780)
Enterprise Mt Belvieu (¢/gal)
Ethane/propane PMUDA05 59.950–60.050 60.000 +3.750
Ethane purity PMUDB05 64.950–65.050 65.000 +3.750
Propane PMAAY00 123.450–123.550 123.500 0.000
Normal butane PMAAI00 151.450–151.550 151.500 -3.500
Isobutane PMAAB00 176.450–176.550 176.500 -3.750
Natural gasoline Enterprise PMABY05 214.700–214.800 214.750 -0.500
Natural gasoline Enterprise #2 AAWUG00 215.700–215.800 215.750 +0.250
Energy Transfer Mt Belvieu (¢/gal) Conway, Kansas Mid Change
Ethane/propane PMAAO00 57.700–57.800 57.750 +3.750
Propane PMABQ00 122.450–122.550 122.500 -0.250 PMAAT00 121.700–121.800 121.750 -1.250
Normal butane PMABR00 128.700–128.800 128.750 -3.500 PMAAD00 146.700–146.800 146.750 -10.250
Isobutane PMAAA00 186.200–186.300 186.250 -10.750
Natural gasoline AAIVF00 215.700–215.800 215.750 -0.500 PMAAQ00 215.700–215.800 215.750 -12.250
Targa Mt Belvieu (¢/gal)
Natural gasoline PMABW05 216.200–216.300 216.250 -0.500
Waterborne FOB USGC ($/mt) Waterborne FOB USGC (¢/gal)
Propane AAXIM00 665.250–665.270 665.260 -6.830 AAXIN00 127.680–127.700 127.690 -1.310
Propane vs. Mt Belvieu AAXIO00 24.740–24.760 24.750 -3.910 AAXIP00 4.700–4.800 4.750 -0.750
Butane ABTNB00 700.750 -20.650 ABTNA00 154.690 -4.560
Butane vs. Mt Belvieu ABTND00 16.990 -3.400 ABTNC00 3.750 -0.750
LPG 22:22 ALPUB00 682.830 -13.750 ALPUA00 141.190 -2.940
LPG 22:22 vs. Mt Belvieu ALPUD00 20.700 -3.650 ALPUC00 4.250 -0.750
VLGC Freight Rates ($/mt) VLGC Freight Rates (¢/gal)
Houston to NWE AAXIQ00 78.000 AAXIR00 14.970
Houston to Japan AAXIS00 138.000 AAXIT00 26.490
PLATTS US MARKETSCAN JUNE 1, 2022
minus 27.75 cents/gal based on the last heard notional
talk of its relationship to its ultra-low sulfur heating oil
counterpart. No activity was seen in the Platts Market on
Close assessment process.
Exclusions: There were no exclusions in the June 1
assessment process.
Platts US West Coast Jet Daily Rationale &
Exclusions
Jet Kero Los Angeles CA Pipeline <PJAAP00> assessment
rationale:
Los Angeles jet fuel was assessed June 1 based on a
heard offer at NYMEX July ULSD futures plus 7.50 cents/
gal. No activity was seen in the Platts Market on Close
assessment process.
Exclusions: There were no exclusions in the June 1
assessment process.
Platts USAC Jet Barge, Pipe and Gasoil No.2 Daily
Rationales and Exclusions
Jet Kero New York Harbor Barge <PJAAW00> assessment
rationale:
New York jet fuel barges were assessed flat to Buckeye
Pipeline June 1 based on a heard offer at plus NYMEX July
ULSD futures minus 10.00 cents/gal. No activity was seen in
the Platts Market on Close assessment process.
Jet Kero New Jersey Buckeye Pipeline <AAJNL00>
assessment rationale:
New York jet fuel for Buckeye Pipeline was assessed
June 1 based on a heard offer at plus NYMEX July ULSD
futures minus 10.00 cents/gal. No activity was seen in the
Platts Market on Close assessment process.
Gasoil No.2 New York Harbor Barge <POAEG00>
assessment rationale:
US Atlantic Coast No. 2 gasoil barge was assessed
unchanged June 1 at NYMEX June ULSD futures minus
46.50 cents/gal. No activity was seen in the Platts Market
on Close assessment process.
Exclusions: There were no exclusions in June 1
assessment process.
© 2022 by S&P Global Inc. All rights reserved. 6
CANADIAN CONDENSATE (PGA page 230)
Code $/mt Change
Condensate AALSF00 106.50
+0.89
Condensate vs WTI CMA AALSJ00 -5.25
0.00
MEXICO REFINED PRODUCTS (PGA page 164)
Code $/barrel Change Code Peso/liter Change
Gasoline CIF Eastern Mexico AAXWA00 164.340
+5.140 AATFH00 20.350 +0.650
Gasoline CIF Rosarito AATFA00 167.920
+4.960 AATFK00 20.800 +0.630
Gasoline CIF Lazaro Cardenas AATFD00 167.450
+4.960 AATFN00 20.740 +0.630
ULSD CIF Eastern Mexico AAXWE00 169.980
+8.420 AATFI00 21.050 +1.060
ULSD CIF Rosarito AATFB00 176.060
+8.110 AATFL00 21.800 +1.020
ULSD CIF Lazaro Cardenas AATFE00 175.530
+8.110 AATFO00 21.740 +1.020
Jet CIF Eastern Mexico AATFG00 170.210
+8.220 AATFJ00 21.080 +1.030
Jet CIF Rosarito AATFC00 176.100
+8.190 AATFM00 21.810 +1.030
Jet CIF Lazaro Cardenas AATFF00 175.600
+8.190 AATFP00 21.750 +1.030
BRAZIL CFR CARGO (PGA page 164)
$/barrel Change R$/cu m* Change
ULSD S10 Itaqui BUITA00 172.960
+8.270 BUITB00 5215.700 +293.830
ULSD S10 Suape BUSUA00 174.000
+8.270 BUSUB00 5247.060 +294.110
ULSD S10 Aratu BUARA00 174.760
+8.270 BUARB00 5269.980 +294.310
ULSD S10 Santos BUSAA00 175.870
+8.270 BUSAB00 5303.450 +294.610
ULSD S10 Paranagua BUPAA00 176.210
+8.270 BUPAB00 5313.700 +294.700
Jet Itaqui AJAAB00 172.870
+8.230 AJABB00 5212.980 +292.600
Jet Suape AJAAE00 173.860
+8.240 AJABE00 5242.840 +293.170
Jet Aratu AJAAA00 174.570
+8.230 AJABA00 5264.250 +293.070
Jet Santos AJAAD00 175.610
+8.230 AJABD00 5295.610 +293.350
Jet Paranagua AJAAC00 175.940
+8.240 AJABC00 5305.560 +293.730
Gasoline Itaqui BGITA00 151.490
+6.530 BGITB00 4568.170 +235.930
Gasoline Suape BGSUA00 152.530
+6.530 BGSUB00 4599.540 +236.220
Gasoline Aratu BGARA00 153.290
+6.530 BGARB00 4622.450 +236.420
Gasoline Santos BGSAA00 154.400
+6.530 BGSAB00 4655.930 +236.720
Gasoline Paranagua BGPAA00 154.740
+6.530 BGPAB00 4666.180 +236.810
$/mt Change R$/kg Change
Propane Suape BLSUA00 733.000
-7.640 BLSUB00 3.510 -0.010
Propane Santos BLSAA00 754.310
-7.930 BLSAB00 3.620 0.000
*Brazilian real per cubic meter.
PLATTS US MARKETSCAN JUNE 1, 2022
Platts US Diesel Daily Market Analysis
■ Surging futures lift diesel outright prices across the US
■ Gulf Coast benchmark outright rises nearly 21 cents/gal
Diesel outright prices surged across the US as the
underlying futures contract rose by nearly 21 cents/gal on
the day.
The NYMEX July ULSD futures contract rose 20.83
cents/gal on the day to $4.1433/gal.
The Gulf Coast benchmark differential reversed small
gains from the previous day, falling by 0.30 cent/gal on the
day to July futures minus 4.25 cents/gal. Outright price
rose 20.53 cents/gal with the surging futures contract to
$4.1008/gal.
Trading activity during the Platts Market on Close
assessment process from S&P Global Commodity Insights
saw only 50,000 barrels changed hands. ATMI was the
seller on both deals. On the buy side, Gunvor and US Oil
bought one packet each.
Group 3 X grade fuel traded 0.5 cent/gal higher on the
day at July futures minus 0.25 cent/gal. Two deals were
completed during the MOC process, one for June 1 fuel and
one for June 2 fuel, which is the prompt assessment date.
Both deals were done at the assessment level, with BP
the buyer on both. Atlas and Flint Hills Resources were the
sellers for one deal each.
Diesel delivering off Line 3 of the Colonial Pipeline was
assessed at a discount Atlantic Coast barge and Buckeye
Pipeline diesel after the bid for Buckeye rose to July futures
plus 6 cents/gal, while offlines was offered at the same
level. Offlines was assessed at July futures plus 5.75 cents/
gal, and barges and Buckeye were assessed at futures plus
6.25 cents/gal.
Chicago Wolverine Pipeline diesel traded 4.75 cents/gal
higher on the day at July futures plus 18 cents/gal. Badger
Pipeline diesel traded at the same level. Chicago Buckeye
Complex was assessed at July futures plus 18 cents/gal as
well after being talked at parity with Wolverine.
© 2022 by S&P Global Inc. All rights reserved. 7
MIDWEST (¢/gal)
Code Mid Change Code RVP Code Mid Change
Pipeline Differential to NYMEX
Chicago (PGA page 160)
Premium 91 PPASQ00 471.11–471.21 471.160
+20.790 PPASQRV 9.0 AANY100 64.000 + +5.250
CBOB AAREL00 410.11–410.21 410.160
+20.790 AARELRV 9.0 AANY101 3.000 +5.250
PBOB AAUEU00 516.11–516.21 516.160
+20.790 AAUEURV 7.4 AANY103 109.000 + +5.250
RBOB PPARH00 455.11–455.21 455.160
+20.790 PPARHRV 7.4 AANY102 48.000 +5.250
Jet PJAAF00 428.28–428.38 428.330
+20.830 ADILA00 14.000 0.000
ULSD AATHA00 432.28–432.38 432.330
+26.580 ADLAI00 18.000 +5.750
Chicago Buckeye Complex (PGA page 160)
CBOB ACBAA00 410.160 +20.790 ACBAARV 9.0 ACBAB00 3.000 +5.250
RBOB ACBAC00 455.160 +20.790 ACBACRV 7.4 ACBAD00 48.000 +5.250
ULSD ACBAE00 432.330 +25.580 ACBAF00 18.000 +4.750
Chicago Wolverine Pipeline (PGA page 160)
CBOB AGCWA00 410.160
+20.790 AGCWERV 9.0 AGCWB00 3.000
+5.250
ULSD AGCWC00 432.330
+25.580 AGCWD00 18.000
+4.750
Group 3 (PGA page 160)
Sub-octane AAXIX00 389.61–389.71 389.660
+17.540 AAXIXRV 9.0 AANYX01 -17.500 +2.000
Premium 91 PGABD00 437.11–437.21 437.160
+28.540 PGABDRV 9.0 AANYX02 30.000 ++13.000
Jet PJAAI00 432.03–432.13 432.080 +5.330 ADIKA00 17.750 -15.500
ULSD AATHB00 414.03–414.13 414.080
+21.330 ADLAB00 -0.250 +0.500
MARINE FUEL (PGA page 30)
$/mt Change vs FO 380 MOPS strip Change
0.5% FOB Singapore cargo AMFSA00 995.880 -14.690 AMOPA00 381.230 +2.400
0.5% FOB Fujairah cargo AMFFA00 1025.140 -13.560
0.5% FOB Rotterdam barge PUMFD00 876.250 +15.000
0.5% FOB US Gulf Coast barge AUGMB00 905.000 +26.750
0.5% Dlvd US Atlantic Coast barge AUAMB00 910.250 +26.000
0.5% FOB Mediterranean cargo MFFMM00 891.000 +15.500
0.5% CIF Mediterranean cargo MFCMM00 908.250 +15.000
$/barrel Change
0.5% FOB US Gulf Coast barge AUGMA00 142.520 +4.210
0.5% Dlvd US Atlantic Coast barge AUAMA00 143.350 +4.100
MARINE FUEL 0.5% DERIVATIVES, JUN 1
Balance* Change Month 1 Change Month 2 Change
Jun Jul Aug
$/mt $/mt $/mt
0.5% FOB Singapore cargo FOFS000 941.250 +29.450 FOFS001 865.250 -87.250 FOFS002 826.250 -54.000
0.5% FOB Fujairah cargo FOFF000 921.750 +111.250 FOFF001 846.250 -87.250 FOFF002 808.750 -54.000
0.5% FOB Rotterdam barge AMRAB00 852.000 +63.000 AMRAM01 811.000 -27.750 AMRAM02 787.000 -19.500
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 250.500 +85.000 AMRBM01 208.000 -6.250 AMRBM02 186.000 +1.250
$/barrel $/barrel $/barrel
0.5% FOB US Gulf Coast barge AUSAB00 138.750 +7.700 AUSAM01 132.000 -2.500 AUSAM02 127.750 -1.150
0.5% vs US Gulf Coast HSFO barge AUSBB00 43.400 +8.100 AUSBM01 37.450 -0.500 AUSBM02 33.850 +0.700
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February.
PLATTS US MARKETSCAN JUNE 1, 2022
Platts USGC ULSD pipeline, export and ULSHO
Daily Rationales and Exclusions
ULSD USGC Prompt Pipeline <AATGY00> assessment
rationale:
US Gulf Coast ULSD C32 was assessed June 1 at NYMEX
July ULSD futures contract minus 4.25 cents/gal based
on activity during the Platts Market on Close assessment
process.
ULSD USGC Export <AAXRV00> assessment rationale:
US Gulf Coast export ULSD was assessed unchanged
at 3 cents/gal above ULSD C28 pipe on June 1, minus the
cost of the RINs renewable fuel credit. No activity was
observed during the Platts Market on Close assessment
process.
ULS Heating Oil USGC Prompt Pipeline <AAXFD00>
assessment rationale:
US Gulf Coast ultra-low sulfur heating oil for Colonial
Pipeline’s prompt cycle was assessed June 1 based on its
relationship to RVO. No activity was observed during the
Platts Market on Close assessment process.
Exclusions: No market data was excluded from the June
1 assessment process.
Platts US Midwest ULSD pipeline Daily Rationales
& Exclusions
ULSD FOB Chicago Pipe <AATHA00> assessment
rationale:
Chicago pipeline ULSD C1 was assessed unchanged
June 1 at July ULSD futures plus 18.00 cents/gal based
on trades at this level for Wolverine Pipeline ULSD and for
Badger Pipeline ULSD.
ULSD Group 3 Pipeline <AATHB00> assessment rationale:
Group 3 X-grade ULSD was assessed June 1 at July
futures minus 0.25 cents/gal based on activity observed
during the Platts Market on Close assessment process.
Exclusions: No market data was excluded from the
June 1 assessment process.
© 2022 by S&P Global Inc. All rights reserved. 8
WEST COAST
Code Mid Change Code RVP Code Mid Change
Los Angeles (PGA page 158)
Pipeline (¢/gal) Differentials to NYMEX
Unleaded 84 AAUHA00 439.86–439.96 439.910 +12.540 AAUHARV 9.0 AANYX84 32.750 -3.000
Unleaded 90 PGABG00 459.86–459.96 459.910 +17.540 PGABGRV 9.0 AANYX85 52.750 +2.000
CARBOB AAKYJ00 441.11–441.21 441.160 +12.540 AAKYJRV 5.99 AANVX00 33.95–34.05 34.000 -3.000
CARBOB Prem AAKYL00 461.11–461.21 461.160 +17.540 AAKYLRV 5.99 AANYX86 54.000 +2.000
Differentials to NYMEX
Jet PJAAP00 421.53–421.63 421.580 +19.580 AANVY00 7.20–7.30 7.250 -1.250
ULS (EPA) Diesel POAET00 452.28–452.38 452.330 +17.830 AANVZ00 37.95–38.05 38.000 -3.000
CARB Diesel POAAK00 451.28–451.38 451.330 +17.830 AANWA00 36.95–37.05 37.000 -3.000
San Francisco (PGA page 158)
Pipeline (¢/gal)
Unleaded 84 PGADG00 453.86–453.96 453.910 +4.540 PGADGRV 7.8 AANYX87 46.750 -11.000
Unleaded 90 PGABO00 475.86–475.96 475.910 +4.540 PGABORV 7.8 AANYX88 68.750 -11.000
CARBOB AAKYN00 455.11–455.21 455.160 +4.540 AAKYNRV 5.99 AANYX89 48.000 -11.000
CARBOB Prem AAKYP00 477.11–477.21 477.160 +4.540 AAKYPRV 5.99 AANYX90 70.000 -11.000
Jet PJABC00 421.53–421.63 421.580 +19.580 ADINA00 7.250 -1.250
ULS (EPA) Diesel POAEY00 461.28–461.38 461.330 +15.830 ADLAE00 47.000 -5.000
CARB Diesel POAAL00 461.28–461.38 461.330 +18.830 ADLAF00 47.000 -2.000
LCFS Carbon Credits ($/mt) (PBF page 214)
Front quarter ( Q2 ) AAXYA00 95.25–95.75 95.500 0.000
Second quarter ( Q3 ) AAXYZ00 95.25–95.75 95.500 0.000
Seattle (PGA page 158)
Pipeline (¢/gal)
Unleaded 84 AAXJE00 430.11–430.21 430.160
+14.540 AAXJERV 9.0 AANYX93 23.000 -1.000
Unleaded 90 AAXJF00 459.11–459.21 459.160
+14.540 AAXJFRV 9.0 AANYX94 52.000 -1.000
Jet PJABB00 421.53–421.63 421.580
+19.580 ADIOA00 7.250 -1.250
ULS (EPA) Diesel AAUEX00 476.13–476.23 476.180
+20.830 ADLAH00 -1.150 0.000
Portland (PGA page 158)
Pipeline (¢/gal)
Unleaded 84 AAXJC00 432.11–432.21 432.160 +14.540 AAXJCRV 7.8 AANYX95 25.000 -1.000
Unleaded 90 AAXJD00 461.11–461.21 461.160 +14.540 AAXJDRV 7.8 AANYX96 54.000 -1.000
ULS (EPA) Diesel AAUEY00 477.28–477.38 477.330 +20.830 ADLAG00 63.000 0.000
Phoenix (PGA page 158)
Pipeline (¢/gal)
AZRBOB 84 AADDP00 462.86–462.96 462.910 +18.790 AADDPRV 5.70 AANYX91 55.750 3.250
AZRBOB 88.5 PPXDJ00 482.86–482.96 482.910 +23.790 PPXDJRV 5.70 AANY100 64.000 +5.250
West Coast Waterborne (PGA page 158)
Waterborne (¢/gal)
Unleaded 87 PGADI00 439.86–439.96 439.910 +12.540
Jet PJABI00 420.53–420.63 420.580 +19.580
PLATTS US MARKETSCAN JUNE 1, 2022
WEEKLY DOE STATISTICS
5/27/22 5/20/22 Change
Crude Input — 16.269 —
Pct Op —% 93.2% —
Mogas Prod — 9.423 —
Distillate Prod — 5.147 —
Residual Prod — 0.253 —
Crude Stocks — 419.801 —
Cushing Stocks — 24.778 —
Mogas Stocks — 219.707 —
Distillate Stocks — 106.921 —
Residual Stocks — 27.127 —
Crude Imports — 6.486 —
Product Imports — 2.004 —
Stocks in million barrels, others million b/d
RENEWABLE FUELS (PGA pages 1414, 483 and 2414)
Change
Northwest Europe ($/mt)
SAF BJNWA00 3250.046 -15.179
HVO HVNWA00 2977.818 -11.413
USWC ($/mt)
SAF w/ credits ASAFA00 2695.632 -16.327
SAF w/o credits ASAFB00 1259.408 -38.086
RD w/ credits ARDFA00 2584.261 -10.153
RD w/o credits ARDFB00 1054.934 -33.205
USWC ($/b)
SAF w/ credits ASAFE00 332.990 -2.017
SAF w/o credits ASAFF00 155.574 -4.705
RD w/ credits ARDFE00 320.174 -1.258
RD w/o credits ARDFF00 130.700 -4.114
USWC (¢/gal)
SAF w/ credits ASAFI00 792.833 -4.802
SAF w/o credits ASAFJ00 370.414 -11.202
RD w/ credits ARDFI00 762.319 -2.995
RD w/o credits ARDFJ00 311.190 -9.795
Southeast Asia ($/mt)
SAF (PFAD) ASFAA00 2387.960 -0.410
HVO (PFAD) HVSAB00 2198.800 -2.310
North Asia ($/mt)
SAF (UCO) ASFAC00 2883.050 +30.780
HVO (UCO) HVNAA00 2645.010 +24.240
© 2022 by S&P Global Inc. All rights reserved. 9
CARBON CREDITS (PGA page 496) JET INDEX (PGA page 115)
Change Index ¢/gal
Platts CEC North America PJNAM00 448.82 PJNAM07 401.96
Latin America PJLAC00 477.49 PJLAC07 410.40
$/mtCO2e PCECA00 4.850 -0.050
Global PJGLO00 455.25 PJGLO07 396.52
Jet Fuel Carbon Offset Premiums
$/b AJFCA00 23.332 -0.241
EUROPEAN PRODUCTS
Code Mid Change Code Mid Change
Mediterranean cargoes (PGA page 1114)
FOB Med (Italy) ($/mt) CIF Med (Genova/Lavera)
Naphtha* PAAAI00 777.25–777.75 777.500 -7.000 PAAAH00 815.50–816.00 815.750 -7.500
Prem Unl 10ppm AAWZA00 1396.00–1396.50 1396.250 +17.750 AAWZB00 1424.75–1425.25 1425.000 +17.500
Jet aviation fuel AAIDL00 1306.00–1306.50 1306.250 +7.750
Gasoil 0.1% AAVJI00 1227.50–1228.00 1227.750 +29.750 AAVJJ00 1272.50–1273.00 1272.750 +29.750
1% PUAAK00 677.75–678.25 678.000 -5.000 PUAAJ00 697.50–698.00 697.750 -5.250
3.5% PUAAZ00 556.25–556.75 556.500 -22.250 PUAAY00 575.50–576.00 575.750 -22.750
*Naphtha FOB Med is basis East Med
Northwest Europe cargoes (PGA page 1110)
FOB NWE ($/mt) CIF basis ARA
Naphtha swap PAAAJ00 852.25–852.75 852.500 -2.250
Naphtha Phy PAAAL00 841.00–841.50 841.250 -7.750
Gasoline 10ppm AAXFQ00 1612.25–1612.75 1612.500
+24.250
Jet PJAAV00 1334.75–1335.25 1335.000 +7.250 PJAAU00 1357.75–1358.25 1358.000 +7.250
Ultra low sulfur diesel 10ppm AAWZD00 1285.00–1285.50 1285.250 +72.500 AAWZC00 1318.00–1318.50 1318.250
+72.500
Diesel 10ppm NWE AAVBF00 1280.75–1281.25 1281.000 +72.500 AAVBG00 1312.25–1312.75 1312.500
+72.500
Diesel 10 ppm UK AAVBH00 1318.75–1319.25 1319.000
+60.500
Diesel 10 ppm UK cargoes CIF NWE AUKDA00 1322.750 +72.500
- original (French) spec
Gasoil 0.1% AAYWR00 1212.75–1213.25 1213.000 +35.750 AAYWS00 1249.00–1249.50 1249.250
+35.750
1% PUAAM00 660.75–661.25 661.000 -5.000 PUAAL00 681.00–681.50 681.250 -7.250
3.5% PUABB00 571.75–572.25 572.000 -21.000 PUABA00 598.25–598.75 598.500 -23.750
0.5-0.7% straight run PKABA00 887.00–888.00 887.500 +19.000
Low sulfur VGO AAHMX00 838.50–839.50 839.000 -1.500 AAHMZ00 865.50–866.50 866.000 -4.250
High sulfur VGO AAHNB00 824.75–825.75 825.250 -1.750 AAHND00 851.75–852.75 852.250 -4.500
Northwest Europe barges (PGA page 1112)
FOB Rotterdam ($/mt)
Naphtha Phy PAAAM00 837.00–837.50 837.250 -7.750
Eurobob Gasoline AAQZV00 1502.25–1502.75 1502.500 +24.250
E10 Eurobob AGEFA00 1526.500 +38.250
Unleaded 98 AAKOD00 1703.50–1704.00 1703.750 +24.250
Premium Unleaded PGABM00 1488.75–1489.25 1489.000 +24.000
Reformate AAXPM00 1632.500 +24.250
MTBE** PHALA00 1811.50–1812.00 1811.750 +20.250
Jet PJABA00 1356.75–1357.25 1357.000 +17.000
Gasoil 0.1%** AAYWT00 1244.50–1245.00 1244.750 +17.500
10 ppm** AAJUS00 1268.50–1269.00 1268.750 +18.000
1% PUAAP00 659.50–660.00 659.750 -5.000
3.5% PUABC00 602.75–603.25 603.000 -23.750
Fuel Oil 3.5% 500 CST PUAGN00 597.75–598.25 598.000 -23.750
Low sulfur VGO AAHNF00 830.25–831.25 830.750 -1.500
High sulfur VGO AAHNI00 816.50–817.50 817.000 -1.750
R’dam Bunker 380 CST PUAYW00 649.50–650.50 650.000 -32.000
**FOB Amsterdam-Rotterdam-Antwerp
PLATTS US MARKETSCAN JUNE 1, 2022
Platts Chicago Diesel Bids, Offers, Trades
Bids: N/A
Offers: N/A
Trades: N/A
This assessment commentary applies to the following
market data codes: Chicago ULSD <AATHA00>
Platts US Atlantic Coast ULSD Barge and Pipeline
Daily Rationales & Exclusions
ULSD New York Harbor Barge <AATGX00> assessment
rationale:
New York Harbor barge ULSD was assessed June
1 at July futures plus 6.25 cents/gal based on a stable
relationship to Buckeye Pipeline ULSD.
ULSD USAC Linden Pipeline Prompt Cycle <AAXPW00>
assessment rationale:
Colonial Pipeline ULSD delivering off Line 3 was
assessed unchanged at June 1 at NYMEX July ULSD futures
plus 4.75 cents/gal based wide bids and offers. There were
no positions in the Platts Market on Close assessment
process.
Exclusions: No market data was excluded from the June
1 assessment process.
US WEEKLY ASPHALT RACKS ASSESSMENTS
US Asphalt Weekly Assessments ($/ton) (PGA page 580)
Effective Date May 27 Asphalt Mid Change
Arkansas PPARP00 735.00–745.00 740.00 +40.00
Colorado PPARU00 710.00–720.00 715.00 +40.00
California PPARW00 765.00–775.00 770.00 +40.00
Illinois PPARX00 725.00–735.00 730.00 +40.00
Georgia PPARQ00 800.00–810.00 805.00 +40.00
Minneapolis/St Paul PPARR00 715.00–725.00 720.00 +40.00
Ohio PPARY00 715.00–725.00 720.00 +40.00
Oklahoma AAUQO00 730.00–740.00 735.00 +40.00
Kansas PPARZ00 745.00–755.00 750.00 +40.00
Texas PPART00 715.00–725.00 720.00 +40.00
Louisiana PPALA00 725.00–735.00 730.00 +40.00
MidAtlantic AAWIC00 770.00–780.00 775.00 +40.00
Tampa AAWID00 735.00–745.00 740.00 +40.00
*Customer rack
© 2022 by S&P Global Inc. All rights reserved. 10
EUROPEAN PRODUCTS (continued)
Code Mid Change
Euro denominated assessments at London MOC Close (PGA page 1116, 1118, 1350 & 1450)
CIF NWE cargoes (€/mt)
Nap Phy AAQCE00 789.52–789.99 789.758 -1.998
Jet AAQCF00 1274.64–1275.11 1274.878 +15.203
FOB NWE cargoes
1% AAQCG00 620.31–620.78 620.541 -0.554
FOB Rotterdam barge
Prem Unl AAQCH00 1397.63–1398.09 1397.860 +31.638
Reformate AAXPN00 1532.576 +32.763
10 ppm*
Gasoil 0.1%*
AAQCI00 1190.86–1191.33 1191.091
AAYWY00 1168.33–1168.80 1168.560
+24.673
+24.058
3.5% AAQCK00 565.86–566.33 566.091 -18.400
Fuel Oil 3.5% 500 CST PUAGO00 561.16–561.63 561.397 -18.431
*FOB Amsterdam-Rotterdam-Antwerp
FUTURES SETTLEMENTS - 01JUN22
Settlement Change Low High Volume Open interest PNT***
NYMEX Light Sweet crude ($/barrel) (PGA page 705)
Jul 22 NMCL001 115.26 +0.59 114.58 117.87 268789 288764
Aug 22 NMCL002 112.72 +0.81 111.86 115.00 80904 157970
Sep 22 NMCL003 109.96 +1.06 108.91 111.79 67837 148135
Oct 22 NMCL004 107.32 +1.27 106.20 108.81 32356 86415
Total NMCL000 625808 XNCLP00 8783
ICE Brent ($/barrel) (PGA page 704)
Aug 22 ICLL001 116.29 +0.69 115.40 118.57 272792 431318
Sep 22 ICLL002 113.56 +0.98 112.41 115.44 179309 272428
Oct 22 ICLL003 111.03 +1.10 109.84 112.61 82895 132984
Nov 22 ICLL004 108.82 +1.15 107.67 110.18 47473 102649
Total ICLL000 790008 XILLP00 11876
ICE WTI ($/barrel) (PGA page 704)
Jul 22 ICIC001 115.26 +0.59 114.60 117.88 34619 65405
Aug 22 ICIC002 112.72 +0.81 112.00 115.01 45461 51849
Sep 22 ICIC003 109.96 +1.06 109.03 111.80 32670 51982
Oct 22 ICIC004 107.32 +1.27 106.23 108.83 15560 30264
Total ICIC000 161874 XIICP00 4011
ICE BWAVE ($/barrel) (PGA page 704)
Aug 22 XIBW001 123.48
Sep 22 XIBW002 118.45
DME Oman crude ($/barrel) (PGA page 2710)
Aug 22 XDOA001 112.66 -1.10 1173
Aug 22 DMOQ001 111.63 +1.47 111.61 112.92 1186 60
Sep 22 DMOQ002 108.22 +0.46 108.22 109.42 1392 45
Oct 22 DMOQ003 105.31 -0.49 105.31 105.31 1389 0
Nov 22 DMOQ004 103.06 -1.10 103.06 103.06 0 0
Total Volume DMOQ000 223 XDOQP00 2478
PLATTS US MARKETSCAN JUNE 1, 2022

FUTURES SETTLEMENTS (continued)

Platts Americas Residual Fuel Daily Market
Analysis
■ Fuel oil prices rise amid continued tight supply
■ USGC buying, selling interest seen in MOC process
A US Gulf Coast high sulfur fuel oil bid in the Platts Market
on Close assessment process tested the notional value
amid subdued selling interest June 1.
The Intercontinental Exchange August Brent futures
contract was assessed at $116.33/b as of 2:30 pm ET, up
$1.02 from the prior day.
Fuel oil supplies continued to be tight as refiners were
prioritizing distillates production and imports remained
largely uneconomical.
“We left ‘tight supply’ many dollars ago and are living
hand to mouth,” one trader said.
CONTENT MOVING!
Content related to hydrogen and voluntary carbon credit
markets has moved, but remains available for free on the
Platts LIVE Energy Transition page.
Settlement Change Low High Volume Open interest PNT***
NYMEX NY ULSD ($/gal) (PGA page 705)
Jul 22 NMHO001 4.1433 +0.2083 3.9702 4.1716 31623 79913
Aug 22 NMHO002 4.0319 +0.1850 3.8833 4.0585 34884 37571
Sep 22 NMHO003 3.9380 +0.1600 3.8131 3.9654 22763 24764
Oct 22 NMHO004 3.8521 +0.1468 3.7638 3.8792 13964 19999
Total NMHO000 137884 XNHOP00 2725
NYMEX RBOB unleaded gasoline ($/gal) (PGA page 705)
Jul 22 NMRB001 4.0716 +0.1554 3.9373 4.1028 46222 112759
Aug 22 NMRB002 3.8712 +0.1257 3.7734 3.9071 42440 52835
Sep 22 NMRB003 3.6752 +0.1037 3.6025 3.7064 29498 37487
Oct 22 NMRB004 3.3854 +0.0797 3.3378 3.4162 16397 26881
Total Volume NMRB000 163845 XNRBP00 5568
NYMEX Natural Gas ($/MMBtu) (PGA page 705)
Jul 22 NMNG001 8.696 +0.551 8.146 8.791 99535 210058
Aug 22 NMNG002 8.686 +0.548 8.143 8.779 23850 71197
Sep 22 NMNG003 8.643 +0.546 8.107 8.732 18024 107122
Oct 22 NMNG004 8.614 +0.541 8.095 8.699 19526 94276
Total Volume NMNG000 246318 XNNGP00 4352
ICE low sulfur gasoil ($/mt) (PGA page 704)
Jun 22 ICLO001 1270.00 +25.75 1212.75 1279.25 30122 58330
Jul 22 ICLO002 1217.75 +18.75 1165.00 1226.25 60866 111994
Aug 22 ICLO003 1173.50 +14.50 1128.75 1181.50 34606 57954
Sep 22 ICLO004 1144.00 +11.75 1105.00 1153.00 24668 54612
Total Volume ICLO000 216388 XILOP00 6017
*Volume, open interest and PNT reflect prior trading day. PNT reflect volume for Privately Negotiated Trades or off-exchange. **Oman settlements are Post Close
settlements. ***Privately Negotiated Trade values found on PGA page 710.

PLATTS US MARKETSCAN
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considers to be related and verifies through a variety of inputs whether counterparties in
reported trades meet these criteria.
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© 2022 by S&P Global Inc. All rights reserved. 11

PLATTS US MARKETSCAN JUNE 1, 2022

USGC marine fuel 0.5% was assessed at $905/mt, up
$26.75 from the prior day, tracking crude. A FOB Houston
trade on a bid in the back-end laycan in the MOC process
did not test the notional value. GCC Bunkers sold to Shell at
$890.50/mt.
While supply was tight in the broader 0.5% market, some
producers could be motivated to sell to clear take space.
“Refiners can’t run if bottoms tanks are full,” a
trader said.
USGC HSFO was assessed at $95.85/b, down 94 cents
from the prior day on a standing bid in the mid-window
laycan in the MOC. The bid tested the notional value.
Platts US Atlantic Coast 0.5% Marine Fuel Barge
FIVE-DAY ROLLING AVERAGES* *FIVE DAYS ENDING JUNE 1
Naphtha $/mt ¢/gal
US Gulf DAP LSR Parcel 883.80 220.40
US Gulf FOB cargo 833.07 **833.17 220.35 —220.45
Jet Kerosene $/MT ¢/gal
US Gulf Water 1243.72**1244.05 374.61—374.71
US Gulf Pipe 1237.08**1237.41 372.61—372.71
NY Barge 164.81**164.86 392.41—392.51
LA Pipeline 1275.89**1276.20 399.96—400.06
Group 3 1394.77**1395.10 420.11—420.21
Chicago 1361.25**1361.58 410.01—410.11
Low Sulfur Resid Fuel Oil $/barrel $/mt
NY Cargo 1% Max 106.22—106.24 690.42**690.55
US Gulf 1% 107.34—107.36 678.41**678.54
Hi Sulfur Resid Fuel Oil $/barrel $/mt
USAC HSFO 103.03—103.05 654.27**654.39
Gasoil/Heating Oil $/barrel ¢/gal
L.A. LS Diesel 177.77**177.81 423.26—423.36
S.F. LS Diesel 184.39**184.43 439.01—439.11
$/mt ¢/gal
NY Barge 1086.16**1086.47 344.81—344.91
US Gulf Water 1123.17**1123.47 364.66—364.76
US Gulf Pipe 1120.09**1120.39 363.66—363.76
NYMEX NO. 2 1241.73 394.20
Gasoline, US Market Unleaded Premium
NY Cargo 401.20—401.30
US Gulf Water 393.24—393.34 436.34—436.44
US Gulf Pipe 390.20—390.30 433.30—433.40
Group 3 408.20—408.30
LA Pipeline 439.53—439.63
SF Pipeline
Chicago 443.95—444.05
442.45—442.55 464.45—464.55

Daily Rationales & Exclusions USGC HSFO 97.57—97.59 619.59**619.72

Platts 0.5% Marine Fuel $/b Dlvd US Atlantic Coast
<AUAMA00> MOC rationale:
Platts assessed USAC marine fuel 0.5%S June 1 based
on the $/mt assessment for USAC marine fuel 0.5%S with a
conversion factor of 6.35 to derive the value for $/b.
Platts 0.5% Marine Fuel $/mt Dlvd US Atlantic Coast
<AUAMB00> MOC rationale:
Platts assessed USAC marine fuel 0.5%S June 1 based
on movement in the underlying swap market. There were no
positions in the Platts Market on Close assessment process.
Exclusions: No market data was excluded from the June
1 assessment process.
NYMEX Unl 392.33
Crude Oil, FOB Source $/barrel Conversions either side of asterisks
West Texas Int 114.33—114.35
NYMEX Crude 112.79
Mars 109.28—109.30
WTI Posting Plus 7.02 —7.04
PLATTS US RENEWABLE VOLUME OBLIGATION – CALCULATED VALUES (PBF page 302)
¢/gal Change
RVO (Current Year) RVOR002 18.5390 +1.0383
RVOs are Renewable Volume Obligation values. RVO is the aggregate cost of the Renewable Identification Number percentages per gallon of transportation fuel for
biomass based diesel, ethanol, advanced biofuel, and cellulosic ethanol as mandated by US Environmental Protection Agency in the Renewable Fuel Standard Program
(RFS2). Platts calculates these RVO values factoring the value of D6, D4, D5, D3 renewable fuel RIN credits as assessed by Platts for the respective RVO years; RINs are
assessed as cents/RIN.Current year RVO reflects the current calendar year
You may access the separate RINs factoring into the RVO calculation by acquiring a license to Platts Biofuelscan or Platts Biofuels Alert. For any related questions, please
contact support@platts.com

Platts US Atlantic Coast 0.5% Marine Fuel

Barge Bids, Offers, Trades Platts 0.5% Marine Fuel $/mt FOB US Gulf Coast
Bids: No Bids Platts US Gulf Coast 0.5% Marine Fuel barge Daily <AUGMB00> MOC Rationale:
Offers: No Offers Rationales & Exclusions Platts assessed USGC marine fuel 0.5%S June 1 based
Trades: No Trades Platts 0.5% Marine Fuel $/b FOB US Gulf Coast on movement in the underlying swap market. A FOB
This assessment commentary applies to the following <AUGMA00> MOC Rationale: Houston trade on a bid in the back-end laycan in the Platts
market data codes: Marine Fuel 0.5% Dlvd USAC barge $/ Platts assessed USGC marine fuel 0.5%S June 1 based Market on Close assessment process did not test the
bbl <AUAMA00> Marine Fuel 0.5% Dlvd USAC barge $/mt on the $/mt assessment for USGC marine fuel 0.5%S with a notional value.
<AUAMB00> conversion factor of 6.35 to derive the value for $/b. Exclusions: No market data was excluded from the
June 1 assessment process.

© 2022 by S&P Global Inc. All rights reserved. 12

PLATTS US MARKETSCAN JUNE 1, 2022

US WHOLESALE POSTED PRICES

Platts Oil US Gulf Coast 0.5% Marine Fuel Unleaded Midgrade Premium Kerosene Diesel No.2 Low Sulfur Diesel ULSD
Bids, Offers, Trades PADD 1
Albany, NY 391.85-412.75 405.85-434.25 445.11-471.45 474.83-583.51 - 429.00-499.36
Bids: Allentown, PA 383.94-428.00 407.72-450.00 443.34-495.50 478.89-500.74 - - 438.40-488.27
FOB HOUSTON: PLATTS USGC MARINE FUEL 0.5%: BE: Atlanta 361.85-408.23 382.30-427.56 425.30-463.46 561.85-561.85 - 463.70-507.95
JUNE 14-16: SHELL NO LONGER BIDS AFTER TRADE Baltimore (a) 383.60-413.62 401.89-427.30 445.60-466.56 512.00-520.11 - - 486.00-527.47
Binghamton, NY 397.00-418.45 418.67-451.94 457.52-468.15 - - - 447.26-494.70
Offers: No Offers
Boston (a) 406.40-418.21 419.73-436.85 446.40-475.20 519.77-519.77 - - 441.50-481.05
Trades: Charleston, SC 374.10-400.77 395.77-420.50 419.46-487.18 - 479.19-506.45
FOB HOUSTON: PLATTS USGC MARINE FUEL 0.5%: Charlotte 360.38-394.20 378.38-417.05 420.38-466.85 - 475.85-526.01
BE: JUNE 14-16: GCC BUNKERS SELLS TO SHELL* 7KMT Fairfax (a) 377.16-404.51 397.60-442.70 436.56-462.55 - 456.96-524.32
AT $890.50 Greensboro 360.15-395.00 379.15-405.75 415.15-451.70 475.00-475.00 - 464.67-518.35
Miami 370.70-394.92 390.71-422.18 426.71-472.94 438.80-460.80
This assessment commentary applies to the following
New Haven (a) 399.29-419.96 419.30-466.25 448.05-504.15 519.47-519.47 - 437.16-452.95
market data codes: Marine Fuel 0.5% FOB USGC barge New York City (a) 412.70-413.96 434.05-435.64 471.40-475.26 - - - 343.69-512.62
$/bbl <AUGMA00> Marine Fuel 0.5% FOB US Gulf Coast Newark, NJ (a) 385.50-416.44 404.53-435.40 442.15-471.65 - - - 417.36-480.00
barge $/mt <AUGMB00> Norfolk (a) 379.27-398.45 399.00-420.20 438.67-463.95 - - 480.78-531.60
Orlando 367.50-384.76 389.17-407.56 428.44-447.50 438.05-463.00
Philadelphia (a) 391.30-422.93 405.93-447.68 432.60-474.90 - - - 418.32-478.67
Platts US Gulf Coast HSFO Daily Rationale & Pittsburgh 392.50-425.50 430.50-454.54 450.00-482.00 - - - 410.36-494.00
Exclusions Providence 392.24-416.65 409.74-438.80 453.24-476.36 - 461.25-461.58
USGC HSFO <PUAFZ00> assessment rationale: Portland,ME 410.85-413.70 432.25-432.62 472.05-475.03 524.03-524.03 - 434.80-454.56
Platts assessed US Gulf Coast HSFO June 1 based on Raleigh 366.40-381.20 382.40-409.60 431.40-443.80 525.95-525.95
a standing bid in the mid-window laycan in the Platts Richmond 378.83-408.25 401.80-434.07 438.23-468.05 523.00-523.00 - 456.04-531.91
Savannah 373.56-388.50 390.56-405.50 435.56-450.50 - 499.45-499.45
Market on Close assessment process. The bid tested the
Spartanburg 359.15-386.39 374.15-399.92 408.60-448.64 - - 453.00-518.20
notional value. Tampa 360.56-377.50 384.04-399.20 420.41-442.10 - 416.65-461.82
Exclusions: No market data was excluded from the PADD 2
June 1 assessment process. Aberdeen 369.27-380.81 384.95-397.82 399.95-409.87 - 415.50-431.18
Cape Girardeau 360.95-371.63 - 401.80-443.86 - 429.71-453.74
Platts US Atlantic Coast Fuel Oil No.6 Daily Chattanooga 362.45-384.79 379.45-417.74 414.45-455.23 - 465.90-508.63
Rationales & Exclusions Chicago (a) 410.82-430.26 433.77-446.19 477.10-480.82 442.32-448.65 - 407.32-428.53
Cleveland 409.20-429.10 433.53-458.43 481.61-502.10 484.20-484.20 466.88-487.22
FO No.6 1.0% New York Harbor Delivered Cargo
Columbus 410.25-430.89 434.25-458.90 481.05-500.29 485.70-485.70 461.15-487.38
<PUAAO00> assessment rationale: Duluth 376.40-389.00 388.78-404.83 415.41-434.16 - 425.30-438.80
Platts assessed US Atlantic Coast 1%S fuel oil c based Des Moines 364.90-385.69 379.96-393.77 397.36-435.15 - - 401.95-444.71
on movement in the underlying swap market June 1. Detroit 405.22-414.75 436.84-437.08 481.46-512.70 452.60-452.60 420.45-440.54
There were no positions in the Platts Market on Close Fargo 371.00-387.25 386.42-400.58 396.70-421.85 - 415.46-434.14
Green Bay 382.00-382.00 - 417.00-417.00 - - 428.00-428.00
assessment process.
Indianapolis 390.27-408.00 420.50-430.33 458.27-475.00 443.25-466.75 442.75-455.00
USAC HSFO <PUAAX00> assessment rationale: Kansas City, KS 355.06-368.40 369.23-382.40 390.00-426.95 - - 404.19-427.00
Platts assessed US Atlantic Coast HSFO based Knoxville 357.96-396.57 374.96-410.46 409.96-449.39 - - 461.41-510.24
on movement in the underlying swap market June 1. Milwaukee 412.10-415.00 431.60-433.43 450.00-472.10 - 414.80-424.85
There were no positions in the Platts Market on Close Minneapolis/St.Paul 369.30-382.58 379.00-398.43 399.60-419.61 440.75-440.75 - 409.46-432.31
Oklahoma City 356.75-379.54 368.80-398.54 373.80-406.31 402.60-424.16
assessment process.
Omaha 361.75-378.65 381.75-396.35 394.95-433.65 - 403.19-427.44
Sioux Falls 367.95-381.85 381.23-393.88 395.30-416.15 - 403.00-429.50
St.Louis 386.15-420.00 433.00-441.66 445.00/465.06 425.00-458.00

© 2022 by S&P Global Inc. All rights reserved. 13

PLATTS US MARKETSCAN JUNE 1, 2022

Exclusions: No market data was excluded from the US WHOLESALE POSTED PRICES (continued)
June 1 assessment process. Unleaded Midgrade Premium Kerosene Diesel No.2 Low Sulfur Diesel ULSD

PADD 3
Platts US Atlantic Coast Fuel Oil No.6 Bids, Albuquerque 392.50-412.50 411.50-433.75 430.50-460.44 427.66-462.50
Amarillo 384.38-386.50 400.38-402.50 423.50-425.38 431.00-431.00
Offers, Trades Baton Rouge 355.98-373.80 378.37-384.05 404.98-432.35 - 404.81-421.90
Bids: No Bids Birmingham 363.96-398.81 380.85-422.81 417.35-478.98 521.57-521.57 - 449.29-491.80
Corpus Christi 369.21-370.66 384.21-385.41 420.66-421.21 - - 399.53-420.30
Offers: No Offers
Dallas/Ft.Worth (a) 376.73-393.25 395.00-418.60 436.49-461.35 408.52-431.34
Trades: No Trades Houston (a) 371.45-386.05 393.39-409.76 431.93-449.05 468.00-468.00 - 404.23-421.33
This assessment commentary applies to the following Little Rock 351.75-381.53 367.75-397.45 386.75-426.29 - 404.60-424.93
market data codes: NY Delivered FO 1% <PUAAO00> New Orleans 352.10-354.03 369.72-403.77 406.72-440.78 - 401.00-434.66
NY Delivered FO 0.3% HP <PUAAE00> NY Delivered FO San Antonio 368.98-388.60 384.33-413.60 422.49-451.10 402.22-420.19
0.7% <PUAAH00> NY Delivered FO 2.2% <PUAAU00> NY PADD 4
Delivered FO 3% <PUAAX00> Billings (b) - 415.23-418.20 443.69-457.54
Casper (b) 360.31-360.36 395.31-398.72 450.60-455.50
Denver 357.00-384.29 373.25-404.29 398.00-425.29 418.77-453.62
Platts US LPG Spot Daily Commentary Salt Lake City 396.04-406.00 421.00-421.00 428.42-441.00 - 450.25-467.00
PADD 5
■ Freight rates fall for first time since April 6 Anacortes 387.00-424.24 413.50-448.74 423.25-460.24 - 453.00-477.75
■ Rates declined $1 from 16-month highs Las Vegas (e) 407.50-438.00 418.50-450.00 438.35-458.00 472.82-494.53
Los Angeles(e) 462.22-475.35 487.50-495.85 503.98-516.35 476.00-498.45
Very Large Gas Carrier freight rates fell for the first time in Phoenix 525.57-540.00 542.32-558.00 569.82-577.50 480.29-505.00
Portland,OR 410.75-427.00 431.60-439.10 442.20-462.00 - 473.75-492.90
eight weeks June 1 amid talk of downstream weakness and
SanFran-EBay (e) 465.50-476.50 479.83-495.00 493.73-513.50 489.24-516.00
poor propane dehydrogenation unit margins. Seattle/Tacoma 399.40-404.25 412.25-430.85 422.25-439.60 - 461.00-493.85
Platts assessed freight from the US Gulf Coast to both Spokane 397.98-415.50 412.91-432.50 430.65-449.25 459.69-482.50
Japan and Northwest Europe down $1 day on day, with All prices are provided by DTN. Discounts or temporary allowances offered by individual companies are not included in posted prices. Prices are unbranded unless noted.
Prices are conventional gasoline unless noted. All prices in cts/gal. (a)=RFG. (b)=Branded postings (e)=CARB gasoline/No.2 oil.endfragment
rates from Houston to Chiba assessed at $138/mt, while
freight from Houston to Flushing dipped to $78/mt.
According to S&P Global Commodity Insights data, fixture count remained “very light,” with three fixtures
Platts US LPG deals
rates to Japan last declined day on day on April 6 when reported for the first half of July.
rates were assessed $1 lower at $110/mt. Rates from That source discussed freight from Houston to Chiba Deals: No deals.
the US Gulf Coast to Northwest Europe slid $1 to $59/ at $140/mt as viable. However, delays at the Panama Canal Bids: Platts LPG C3 Enterprise June22, TAG bids $1.2325
mt on the same day before climbing to the highest have narrowed to four days for northbound transit and for 25kb.
level since Platts assessed freight on that route at $83/ three days southbound transit, according to a second Offers: Platts LPG C3 Enterprise June22, TAG offers
mt on Jan. 21, 2021. Freight from Houston to Chiba last shipping source, while arbitrages remained weak for June $1.2600 for 25kb.
reached $139/mt, the level of May 31 assessment, on and July.
Jan. 21, 2021. Additionally, weakness in the end-user markets for
Freight rates incrementally strengthened over the past LPG, combined with suboptimal PDH margins, have applied
two months on limited ship availability and delays at the modest pricing pressure on freight rates in the near term.
Panama Canal. According to one shipping source, the USGC

© 2022 by S&P Global Inc. All rights reserved. 14

PLATTS US MARKETSCAN JUNE 1, 2022

SUBSCRIBER NOTES Propane non-LST Propane

Please send any further comments, feedback and
PMAAY00 Mt Belvieu pipe Enterprise Mt Non-LST Enterprise
Mo01 Belvieu Mo01 questions to americas_products@spglobal.com and
Platts renames Mont Belvieu NGL assessments Propane non-LST Propane pricegroup@spglobal.com.
AAWUD00 Mt Belvieu pipe Enterprise Mt Non-LST Enterprise
June 1 Mo02 Belvieu Mo02
For written comments, please provide a clear indication
Butane non-LST Mt Butane Enterprise if comments are not intended for publication by Platts for
PMAAI00 Non-LST Enterprise
Platts, part of S&P Global Commodity Insights, has changed Belvieu pipe Mo01 Mt Belvieu Mo01 public viewing. Platts will consider all comments received
Butane non-LST Mt Butane Enterprise
the names of its Mont Belvieu NGL assessments to better AAWUF00
Belvieu pipe Mo02 Mt Belvieu Mo02
Non-LST Enterprise and will make comments not marked as confidential
reflect the names of the specific cavern locations where Isobutane non-LST
Isobutane available upon request.
PMAAB00 Enterprise Mt Non-LST Enterprise
they are traded, effective June 1, 2022. Mt Belvieu pipe
Belvieu
The changes come as Energy Transfer renamed its Lone Natural Gasoline Platts increases maximum incrementability for
Natural Gasoline
Star (LST) entities to Energy Transfer as of Nov. 1, 2021. The PMABY05
non-LST non-Targa
Enterprise Mt Non-Targa Enterprise USAC Buckeye Pipeline jet fuel MOC
Mt Belvieu pipe
location was previously owned by Louis Dreyfus Holding Belvieu Mo01
Mo01
(LDH) and Texas Eastern Transmission (TET). Natural Gasoline Platts, part of S&P Global Commodity Insights, has
Natural Gasoline
The name changes impact all daily and monthly cavern AAWUG00
non-LST non-Targa
Enterprise Mt Non-Targa Enterprise increased the maximum incrementability for its Market on
Mt Belvieu pipe
NGL assessments in Mont Belvieu, Texas, along with the Mo02
Belvieu Mo02 Close assessment process for US Atlantic Coast Buckeye
relevant hubs for related eWindow instruments. Natural Gasoline Pipeline jet fuel, with effect from May 12, 2022, until further
Natural Gasoline Targa (no
Platts first proposed this change in a subscriber note PMABW05 non-LST Targa Mt Targa notice, as a result of extreme market volatility observed in
Targa Mt Belvieu change)
Belvieu pipe
published Feb. 18, 2022: https://www.spglobal.com/ Propane recent weeks.
Propane non-LST
commodity-insights/en/our-methodology/subscriber- Enterprise Mt Platts has increased the incrementability for bids and
AAXDD00 Mt Belvieu pipe $/ — —
notes/021822-platts-proposes-to-rename-mont-belvieu- Belvieu $/mt offers published in the MOC process using the eWindow
mt Mo01
Mo01
ngl-assessments. Butane non-LST Mt Butane Enterprise communication tool in the Buckeye Pipeline jet fuel market
The symbols and methodology remain unchanged and AAXDC00 Belvieu pipe $/mt Mt Belvieu $/mt — — to a maximum of 50 points/gal (0.50 cents/gal) every 15
the assessments continue to reflect the same caverns Mo01 Mo01 seconds, up from the previous maximum of 25 points/gal
Propane Energy
where the products are traded. Propane LST Mt Energy (0.25 cent/gal) every 30 seconds.
PMABQ00 Transfer Mt LST
Belvieu pipe Mo01 Transfer
For example, the assessments previously described as Belvieu Mo01 All other MOC timing and increment guidelines remain
Propane Energy
non-LST and non-Targa continue to reflect barrels trading Propane LST Mt Energy unchanged. There are no changes being made to the timing
AAWUE00 Transfer Mt LST
at the Enterprise NGL storage and fractionation facility in Belvieu pipe Mo02 Transfer and increment guidelines in other US refined products
Belvieu Mo02
Mont Belvieu, while the assessments previously described Butane LST Mt
Butane Energy
Energy markets.
PMABR00 Transfer Mt LST
as LST continue to reflect barrels at the Energy Transfer Belvieu pipe Transfer This decision follows over one month of close
Belvieu
facility formerly known as Lone Star. Natural Gasoline observation of volatility in the Buckeye Pipeline jet fuel
Natural Gasoline Energy
PREVIOUS NEW PREVIOUS NEW AAIVF00 Energy Transfer LST market, with numerous on-the-day adjustments made to
LST Mt Belvieu pipe Transfer
SYMBOL ASSESSMENT ASSESSMENT EWINDOW EWINDOW Mt Belvieu
incrementability on a case-by-case basis between April
NAME NAME HUB HUB
E/P Mix non-LST Mt E/P Mix Enterprise
1-May 11. During this period, traded values for USAC Buckeye
PMUDA05 Non-LST Enterprise
Belvieu pipe Mo01 Mt Belvieu Mo01 These assessments are published in Platts US Pipeline jet fuel differentials fluctuated by approximately
Purity Ethane non- Purity Ethane Marketscan, LPGasWire, Latin America Wire and Oilgram 400 cents/gal and established all-time highs, highlighting
PMUDB05 LST Mt Belvieu pipe Enterprise Mt Non-LST Enterprise
Mo01 Belvieu Mo01 Price Report; on Platts Global Alert and Platts Refined unprecedented volatility in the market.
Purity Ethane non- Purity Ethane Products Alert pages 780 and 781, as well as on the Platts Record highs seen for the differential over the past
AAWUC00 LST Mt Belvieu pipe Enterprise Mt Non-LST Enterprise price database under the codes above. month coincided with an all-time low for jet fuel stocks
Mo02 Belvieu Mo02
on the Atlantic Coast, with data from the US Energy

© 2022 by S&P Global Inc. All rights reserved. 15

PLATTS US MARKETSCAN JUNE 1, 2022
Information Administration showing regional volumes
fell to a 30-year low in early April. Low stock levels have
been exacerbated during this time by limited imports and
competing demand for jet fuel at other hubs along the
Atlantic Coast and by supply concerns for ultra-low sulfur
diesel, exacerbated by the Russia-Ukraine conflict.
© 2022 by S&P Global Inc. All rights reserved. 16
Platts is closely monitoring the situation as it develops.
Further announcements on resuming more standard
incrementability for the MOC in this market will be made in
due course.
Please send comments to
americas_products@spglobal.com and
pricegroup@spglobal.com.
For written comments, please provide a clear indication
if comments are not intended for publication by Platts for
public viewing. Platts will consider all comments received
and will make comments not marked as confidential
available upon request.
PLATTS US MARKETSCAN JUNE 1, 2022

DEALS SUMMARY C32:

■ MOTVA bids 25kb $-0.3600/gal ULSHO USGC Pipeline
C32:
■ SUNI bids 25kb $-0.3700/gal Trades (PGA page 448)
C32:
■ EPO bids 25kb $-0.3700/gal No trades reported
■
Gasoline Suboctane Group 3 Pipeline C32:
■ EMOC bids 25kb $-0.3700/gal * Denotes market maker. All times GMT
Trades (PGA page 325) C32:
■ BPP bids 25kb $-0.3700/gal
STANDARD: USO sold to MUSKET* 10kb $-0.1850/gal 18:27:06
■ C32:
■ PHCO bids 25kb $-0.3700/gal Bids (PGA page 446)
* Denotes market maker. All times GMT C32:
■ TAG bids 25kb $-0.3725/gal No bids reported
■
Withdrawals
Bids (PGA page 323) Withdrawals
■ STANDARD: MUSKET bids 10kb $-0.1850/gal No bids reported
■ No bids reported
■
■ STANDARD: CHSI bids 10kb $-0.1875/gal Offers (PGA page 347) Offers (PGA page 447)
■ STANDARD: VIT bids 10kb $-0.1900/gal ■ C32: VIT offers 25kb $-0.3000/gal ■ No offers reported
■ STANDARD: KOCH bids 10kb $-0.1900/gal ■ C32: EPO offers 25kb $-0.3000/gal Withdrawals
Withdrawals ■ C32: TAG offers 25kb $-0.3000/gal No offers reported
■
No bids reported
■ ■ C32: BPP offers 25kb $-0.3000/gal
Offers (PGA page 324) ■ C32: PHCO offers 25kb $-0.3000/gal Gasoil No. 2 NYH Barge
■ STANDARD: GUNVORUSA offers 10kb $-0.1550/gal Withdrawals
Trades (PGA page 406)
Withdrawals C32: USO no longer offers 25kb $-0.3125/gal
■ No trades reported
■
STANDARD: USO Withdraws offer 10kb $-0.1750/gal
■ * Denotes market maker. All times GMT
STANDARD: KOCH Withdraws offer 10kb $-0.1500/gal
■ Gasoline RBOB NYH Barge Bids (PGA page 404)
Trades (PGA page 317) No bids reported
■
Gasoline Unl 87 USGC Pipeline ■ No trades reported Withdrawals
Trades (PGA page 348) * Denotes market maker. All times GMT No bids reported
■
■ C32: PHCO sold to ATMI* 25kb $-0.0150/gal 18:27:40 Bids (PGA page 315) Offers (PGA page 405)
■ C32: PHCO sold to TAG* 25kb $-0.0175/gal 18:28:28 No bids reported
■ ■ No offers reported
■ C32: PHCO sold to EMOC* 25kb $-0.0175/gal 18:29:57 Withdrawals Withdrawals
* Denotes market maker. All times GMT No bids reported
■ No offers reported
■
Bids (PGA page 346) Offers (PGA page 316)
C32: BPP bids 25kb $-0.0250/gal
■ ■ No offers reported Jet Fuel USGC Pipeline
C32: PILOT bids 25kb $-0.0275/gal
■
Withdrawals
Withdrawals
Trades (PGA page 443)
No offers reported
■ C32: VIT sold to VALERO* 25kb $-0.2375/gal 18:28:30
■
C32: ATMI no longer bids 25kb $-0.0150/gal
■
C32: TAG no longer bids 25kb $-0.0175/gal
■ C32: EMOC sold to VALERO* 25kb $-0.2375/gal 18:28:47
■
C32: EMOC no longer bids 25kb $-0.0175/gal
■ Gasoil No. 2 USGC Pipeline C32: VIT* sold to ATMI 25kb $-0.2325/gal 18:29:02
■
Trades (PGA page 448) C32: EMOC sold to VALERO* 25kb $-0.2375/gal 18:29:08
■
Offers (PGA page 347) C32: VIT* sold to VALERO 25kb $-0.2325/gal 18:29:09
■
■ C32: PHCO offers 25kb $0.0025/gal No trades reported
■
* Denotes market maker. All times GMT
C32: STUS sold to VALERO* 25kb $-0.2375/gal 18:29:23
■
Withdrawals * Denotes market maker. All times GMT
No offers reported
■ Bids (PGA page 446)
■ No bids reported Bids (PGA page 441)
C32:
■ VALERO bids 25kb $-0.2450/gal
Withdrawals
Gasoline CBOB 87 USGC Pipeline C32:
■ BPP bids 25kb $-0.2475/gal
No bids reported
■
Trades (PGA page 348) C32:
■ GUNVORUSA bids 25kb $-0.2625/gal
Offers (PGA page 447) C32:
■ TAG bids 25kb $-0.2800/gal
C32: USO* sold to VALERO 25kb $-0.3125/gal 18:26:14
■
■ No offers reported C32:
■ VIT bids 25kb $-0.2825/gal
* Denotes market maker. All times GMT
Withdrawals C32:
■ MPCLLC bids 25kb $-0.3000/gal
Bids (PGA page 346)
No offers reported
■ Withdrawals
■ C32: CHEV bids 25kb $-0.3525/gal
■ C32: GUNVORUSA bids 25kb $-0.3575/gal C32: VALERO no longer bids 25kb $-0.2375/gal
■

© 2022 by S&P Global Inc. All rights reserved. 17

PLATTS US MARKETSCAN JUNE 1, 2022

C32: ATMI Withdraws bid 25kb $-0.2475/gal

■ Jet Fuel NYH Buckeye Pipeline C32:
■ EPO offers 25kb $-0.0375/gal
C32: BPP Withdraws bid 25kb $-0.3000/gal
■ Trades (PGA page 487) C32:
■ VIT offers 25kb $-0.0375/gal
Offers (PGA page 442) No trades reported
■ C32:
■ MPCLLC offers 25kb $-0.0350/gal
■ C32: TAG offers 25kb $-0.2225/gal * Denotes market maker. All times GMT
C32:
■ MOTVA offers 25kb $-0.0350/gal
■ C32: VIT offers 25kb $-0.2175/gal C32:
■ KOCH offers 25kb $-0.0300/gal
Bids (PGA page 485)
■ C32: BPP offers 25kb $-0.2000/gal Withdrawals
No bids reported
■
■ C32: MPCLLC offers 25kb $-0.1700/gal C32: BPP Withdraws offer 25kb $-0.0350/gal
■
Withdrawals C32: BPP Withdraws offer 25kb $-0.0350/gal
■
■ C32: VIT offers 25kb $-0.1675/gal
No bids reported
■
Withdrawals
C32: VIT no longer offers 25kb $-0.2325/gal Offers (PGA page 486)
■ ULSD USGC Export
C32:
■ EMOC Withdraws offer 25kb $-0.2300/gal ■ No offers reported
Withdrawals
Trades (PGA page 438)
C32:
■ EMOC Withdraws offer 25kb $-0.2275/gal
No offers reported
■
No trades reported
■
C32:
■ STUS Withdraws offer 25kb $-0.2250/gal
* Denotes market maker. All times GMT
C32:
■ BPP Withdraws offer 25kb $-0.1500/gal
Bids (PGA page 436)
ULSD USGC Pipeline
No bids reported
■
Jet Fuel LA Pipeline Trades (PGA page 438) Withdrawals
Trades (PGA page 455) C32: ATMI sold to GUNVORUSA* 25kb $-0.0425/gal 18:28:24
■ No bids reported
■
■ No trades reported C32: ATMI* sold to USO 25kb $-0.0400/gal 18:28:25
■
* Denotes market maker. All times GMT
Offers (PGA page 437)
* Denotes market maker. All times GMT
■ No offers reported
Bids (PGA page 453) Bids (PGA page 436)
Withdrawals
No bids reported
■ C32:
■ EPO bids 25kb $-0.0450/gal
No offers reported
■
Withdrawals C32:
■ GUNVORUSA bids 25kb $-0.0450/gal
No bids reported
■ C32:
■ PILOT bids 25kb $-0.0450/gal
C32:
■ GUNVORUSA bids 25kb $-0.0475/gal ULSD Group 3 Pipeline
Offers (PGA page 454) C32:
■ KOCH bids 25kb $-0.0475/gal Trades (PGA page 425)
■ No offers reported C32:
■ VIT bids 25kb $-0.0500/gal PROMPT: BPP sold to ATLSO* 10kb $-0.0025/gal 18:26:42
■
Withdrawals C32:
■ BPP bids 25kb $-0.0500/gal STANDARD: BPP sold to FHR* 10kb $-0.0025/gal 18:26:38
■
No offers reported
■ C32:
■ SUNI bids 25kb $-0.0500/gal * Denotes market maker. All times GMT
C32:
■ MPCLLC bids 25kb $-0.0500/gal
Bids (PGA page 423)
Jet Fuel NYH Barge C32:
■ PHCO bids 25kb $-0.0500/gal
No bids reported
■
C32:
■ VALERO bids 25kb $-0.0500/gal
Trades (PGA page 487) Withdrawals
C32:
■ MOTVA bids 25kb $-0.0500/gal
No trades reported
■ STANDARD: FHR no longer bids 10kb $-0.0025/gal
■
C32:
■ ATMI bids 25kb $-0.0525/gal
* Denotes market maker. All times GMT STANDARD: FHR Withdraws bid 10kb $-0.0300/gal
■
C32:
■ MUSKET bids 25kb $-0.0550/gal
Bids (PGA page 485) PROMPT: ATLSO no longer bids 10kb $-0.0025/gal
■
Withdrawals
No bids reported
■
No bids reported
■ Offers (PGA page 424)
Withdrawals ■ No offers reported
Offers (PGA page 437)
No bids reported
■ Withdrawals
■ C32: STUS offers 25kb $-0.0415/gal
Offers (PGA page 486) ■ C32: ATMI offers 25kb $-0.0410/gal No offers reported
■
■ No offers reported ■ C32: VIT offers 25kb $-0.0400/gal
Withdrawals ■ C32: VALERO offers 25kb $-0.0400/gal ULSD NYH Barge
No offers reported
■ ■ C32: STUS offers 25kb $-0.0400/gal Trades (PGA page 415)
■ C32: ATMI offers 25kb $-0.0400/gal No trades reported
■
■ C32: MUSKET offers 25kb $-0.0390/gal * Denotes market maker. All times GMT
■ C32: BPP offers 25kb $-0.0375/gal

© 2022 by S&P Global Inc. All rights reserved. 18

PLATTS US MARKETSCAN JUNE 1, 2022

Bids (PGA page 413) ULSD NYH Colonial Pipeline USGC HSFO
No bids reported
■ Trades (PGA page 415) Trades (PGA page 535)
Withdrawals No trades reported
■ No trades reported
■
No bids reported
■ * Denotes market maker. All times GMT * Denotes market maker. All times GMT
Offers (PGA page 414) Bids (PGA page 413) Bids (PGA page 533)
■ No offers reported ■ No bids reported MW: FOB HOUSTON MEALLC bids 45kb $95.80/bbl
■
Withdrawals Withdrawals Withdrawals
No offers reported
■ No bids reported
■ No bids reported
■
Offers (PGA page 414) Offers (PGA page 534)
■ No offers reported ■ No offers reported
Withdrawals Withdrawals
No offers reported
■ No offers reported
■

© 2022 by S&P Global Inc. All rights reserved. 19