Platts Allows Traders to Specify Restrictions on Oil Product Origins

Russel Hardy, CEO of the world's largest oil trader Vitol, also said on March 22 customers did not want to buy Russian oil.

Reuters

S&P Global Platts said on March 22 its trading platform would allow participants to specify any restrictions on the origin of products, in a move that could make it easier for market players to boycott Russian oil.

The company, which also publishes daily prices for oil and oil products, said it was making the change based on feedback from participants in the European oil product markets.

“Given the importance of verifiable market information, particularly at a time of such uncertainty and volatility, Platts will publish bids, offers and indications to trade that include restrictions on origin, where appropriate,” the agency said.

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