Taking Singapore market as an example, Platts reporters consider 

information collected through the day, with a particular focus on 

the half hour prior to 16:30 Singapore time, which makes its price 

more relevant to the Asia futures market’s closing price. Platts 

claims that its assessment takes into account the eect of time on 

price. While Argus typically reects physical market prices across 

the entire trading day as a volume-weighted average of deals 

done. Argus tracks as many transactions as possible. Argus believes 

an entire trading day price is a reliable indicator of physical market 

values as it incorporates the broadest possible pool of spot market 

liquidity and has acceptance from industry

Currently, Platts prices have taken a significant role in the 

determination of oil prices in the Asia-Pacific region, as their 

Dubai-Oman is a pricing benchmark applied to the vast majority 

of sour crude oil trading east of Suez. As for Argus, its Argus Sour 

Crude Index (ASCI) has become the pricing benchmark for sales 

of crude oil by Saudi Arabia, Kuwait, and Iraq to the United States, 

and its ESPO (East Siberia – Pacific Ocean) and AFEI (LPG) (Argus 

Far East Index) prices also have major inuence in the Far East.

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