01 Feb 2021 | 14:00 UTC — New York

Platts launches new standalone Chicago Wolverine pipeline CBOB, ULSD assessments

S&P Global Platts has launched new standalone Wolverine pipeline assessments for CBOB and ULSD in the Chicago area, effective Feb. 1, 2021.

These assessments were first proposed in a subscriber note published Dec. 10, 2020: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/121020-platts-proposes-new-standalone-chicago-wolverine-pipeline-cbob-ulsd-assessments

Trade on the Wolverine pipeline is reflected in the existing Platts Chicago pipeline assessments for CBOB and ULSD, and will continue to do so. Since July 2, 2018, the Platts Chicago pipeline assessments for various refined products have reflected the lowest value among the Badger, West Shore and Wolverine pipelines in the Chicago area. Platts also publishes separate Buckeye Complex assessments, which reflect the value of product at the Buckeye Complex storage hub in the Chicago area.

The new standalone Wolverine pipeline assessments come as Platts has observed growing trade activity on this pipeline in recent years, particularly for CBOB and ULSD.

In addition, with the Wolverine pipeline servicing markets east of Chicago, and the West Shore and Badger pipelines servicing areas north and west of Chicago, Platts has also typically observed a price spread between the Wolverine pipeline and its West Shore and Badger counterparts.

The new Wolverine assessments for CBOB and ULSD are published in US cents/gal as outright prices, as well as differentials to the relevant futures contract. The differentials are published versus the same futures contract month that forms the basis of the outright price assessments.

The new Wolverine pipeline assessments reflect product moving on the prompt cycle. In line with the existing Chicago pipeline and BCX assessments, the cycle changes are every 10 days, on the 5th, 15th, and 25th of the month. In the Chicago market, rollover dates align with Explorer Pipeline's cycle schedule.

The new assessments are listed below and can be found on Platts Global Alert pages 320, 160 and 481. These also appear in Platts US Marketscan and Platts Oilgram Price Report, and in the Platts price database under the codes below.

ASSESSMENT
SYMBOL
Gasoline CBOB Chicago Wolverine
AGCWA00
Gasoline CBOB Chicago Wolverine Differential to NYMEX RBOB
AGCWB00
ULSD Chicago Wolverine
AGCWC00
ULSD Chicago Wolverine Differential to NYMEX ULSD
AGCWD00

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