Platts Launches Jet Fuel Microsite
Global energy, petrochemicals and metals information provider Platts launched a jet fuel microsite yesterday aimed at the energy information needs of the aviation industry. “We’re pleased to introduce a one-stop source of global jet fuel news and price data that we believe will further enhance transparency in and broader understanding of the aviation fuel markets,” said Platts global editorial director of oil Dave Ernsberger.
The company’s web pages devoted to aviation energy include the Platts Global Jet Index, an index reflective of a worldwide value based on Platts’s daily spot market regional assessments for jet fuels; graphics of Platts’ spot regional jet fuel price assessments; daily commentary and overview of jet fuel pricing in key refining and consuming markets worldwide; and jet fuel news. Platts’s jet fuel price assessments employ the “time tested” market-on-close (MOC) methodology that has been used in physical oil and product markets worldwide for nearly 20 years.
MOC, it said, “is a highly transparent price assessment process based on the principle that price is a function of time.” The MOC process identifies bid, offer and transaction data by company of origin and results in a “time-sensitive end-of-trading-day daily price assessment,” Platts said.