OPIS releases enhancements to daily global marine fuel price report
Oil Price Information Service (OPIS) by IHS Markit, an internationally-referenced price-reporting agency serving the oil, natural gas, biofuels and petrochemical industries, announced today it has expanded its offerings in the Global Marine Fuels Report to include price discovery for additional bunker ports across Asia, Europe and the Americas.
In addition, the company has expanded its OPIS-benchmarked ultra-low-sulfur-diesel (ULSD) prices for spot and rack markets across the U.S. Diesel will be an essential component of the 0.5% sulfur (0.5%S) IMO 2020-compliant fuel, called very-low-sulfur fuel oil (VLSFO), and it already is a major component of marine gas oil (MGO).
Only OPIS provides benchmarked diesel prices for U.S. spot and rack markets. The daily price benchmarks found in the OPIS Global Marine Fuels Report , are based on full-day assessments for maximum transparency and reliability, unlike other pricing tools that provide an abbreviated trading day or differential prices.
With IMO 2020 fuel restrictions taking effect in less than a month, this concise price report is even more essential for shipowners, refiners, suppliers, fuel managers and traders.
Oil Price Information Service (OPIS) by IHS Markit provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and OPIS PetroChem Wire enable customers to buy and sell oil and gas products with confidence via easy access to transparent data, expert-level customer support, educational events and energy data solutions with Axxis Software and OPIS RetailSuite.