OPIS Launches Natural Gas Pricing Service
Oil Price Information Service (OPIS) is launching a new natural gas pricing service covering key markets in the U.S. and Canada. The new service offers the closest look available for natural gas buyers and sellers by showing, on a daily basis, transparent and important prices that can be used as benchmark indices for over-the-counter natural gas transactions.
With the release of its Natural Gas Price Daily & Bidweek Report, OPIS adds natural gas to its extensive portfolio of commodities it covers each day. The new service complements OPIS’s existing coverage of wholesale and retail gasoline, diesel fuel, heating oil, propane, jet fuel and other commodity products.
The new natural gas price survey provides a transparent look for next-day natural gas delivered to 88 trading points. For each pricing location, the index includes a weighted average price that can be used to fairly value product. Also included in the survey are daily price changes, highs and lows, as well as a basis value relative to Henry Hub, a key sourcing point in North America for natural gas.
The OPIS report will be published every evening for next-day gas flow, while the monthly “bidweek” price survey will be published on the last business day of each month.
The report is relevant for anyone in the natural gas supply chain including natural gas producers, utility companies, hedge funds, banks and research groups, as well as the vast array of end-users reliant on natural gas to generate power to produce food, oil, chemicals, plastics or other products.
OPIS, an IHS Markit company (Nasdaq:INFO), is well-known as an independent source for reliable pricing information. In 1980, OPIS pioneered rack price discovery for gasoline and diesel fuel for thousands of wholesalers and now maintains the world’s largest database of U.S. and international wholesale petroleum prices.
“OPIS is committed to providing complete price transparency across the entire oil supply chain. We are pleased to take this step and add natural gas index pricing to our wide array of pricing services,” said Brian Crotty, OPIS president and CEO.
“We are excited to offer the market an affordable and reliable natural gas price benchmark alternative to use in spot and term fuel contracts,” said Randy Rischard, president of PointLogic Energy, OPIS’s natural gas analytics division.
For more information, contact Scott Berhang, Vice President, Global Sales, OPIS at 301.284.1966 or sberhang@www.opisnet.com/es.
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 key 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. All other company and product names may be trademarks of their respective owners © 2016 IHS Markit Ltd. All rights reserved.
About Oil Price Information Service (www.opisnet.com/es)
Oil Price Information Service (OPIS), an IHS Markit Company (NASDAQ: INFO), is one of the world’s most comprehensive sources for petroleum, LPG/NGL, jet fuel and biofuels pricing and news information with offices in the U.S., Europe and Singapore and is the most widely accepted U.S. fuel price benchmark for supply contracts and competitive positioning.