OPIS Adds PetroChem Wire curves to benchmark natural gas liquids (NGL) forward data
The OPIS NGL Forwards Report now provides price transparency for olefins and polymers.
ROCKVILLE, MD (March 4, 2019) — Oil Price Information Service (OPIS) by IHS Markit (Nasdaq: INFO), an internationally-referenced price reporting agency serving the oil, natural gas and biofuels industries, announces the blending of published spreads between benchmark OPIS NGLs and OPIS PetroChem Wire Olefins and Polymers in the OPIS NGL Forwards Report. The new data is available just six months after the completion of OPIS’ acquisition of the PetroChem Wire (PCW).
OPIS NGLs Forwards Report, which serves as a global benchmark for US NGL forward pricing, now also features Ethylene Cash Cost Forward Curves using formulas created by OPIS NGLs pricing and OPIS PCW petrochemical pricing. The combination of daily published Ethylene Cash Costs and Benchmark Spreads will facilitate supply chain price management and create instant efficiency for stakeholders already trading the various supply chain components as separate commodities.
“Marrying the global benchmarks of OPIS NGLs and PCW Olefins under the OPIS umbrella enables us to provide both the NGL and petrochemical markets with a seamless trading tool previously unavailable. These spreads are tradable and we hope they will power new risk management tool,” says Diane Miller, global director of OPIS NGL, LPG and Feedstocks.
OPIS acquired Petrochem Wire (PCW) in August 2018. PCW’s status as the benchmark for US ethylene and propylene made the service a natural fit with OPIS in the NGLs industry, as NGLs are the chief feedstocks for ethylene and propylene, and OPIS holds the benchmark for US NGLs.
“One of the drivers of the [PCW] acquisition was the extension of supply chain benchmarks from Ethane, Propane and Butane down into Ethylene, Propylene, Polyethylene and Polypropylene,” says Kathy Hall, executive editor of OPIS PetroChem Wire.
To see samples of the new reports, contact OPIS Customer Service at energycs@opisnet.com or +1 301.284.2000.
###
About OPIS (www.opisnet.com)
Oil Price Information Service (OPIS) by IHS Markit (Nasdaq: INFO) provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS enables customers to buy and sell petroleum products with confidence via easy access to transparent data, expert-level customer support, educational events and energy data solutions like Axxis Software and OPIS PointLogic.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2019 IHS Markit Ltd. All rights reserved.