Argus partners with OMJ to add transparency to UK/Ireland downstream petrol prices

Oil Market Journal (OMJ) to distribute Argus prices to its clients, including key international benchmarks for gasoline, biofuels and LPG

London, 9 May 2023

Global energy and commodity price reporting agency Argus has agreed to license its key European spot price assessments for oil products to OMJ for dissemination to OMJ’s customer base. Prices include those for gasoline, biofuels and LPG. OMJ downstream clients include large volume oil buyers, especially distributors and service stations in the UK and Ireland.

OMJ will distribute daily spot prices for a variety of internationally traded oil markets, including Argus Eurobob, the benchmark reference in short and long-term European gasoline supply contracts, and Fame, which is used to price European biodiesel supplies. Argus prices for jet fuel, diesel, fuel oil, butane, propane, ethanol and crude are also included in the agreement. In addition, OMJ will distribute Argus commodity news and analysis relevant to the UK and Irish markets.

“We are pleased to partner with OMJ to help increase transparency for UK and Ireland downstream customers,” Argus Media chairman and chief executive Adrian Binks said. “Evolving market fundamentals and volatility have contributed to significant price movements in recent months and OMJ’s extensive network of clients will benefit from access to our market-leading prices and insights to help them make informed decisions and manage risk.”

Ian Moore, founder and managing director of OMJ, said: “We are delighted to distribute Argus’ leading price data to our customers in response to their feedback to be able to access Argus international benchmarks through our platform. We are always keen to improve our service and the addition of the Argus prices, news and analysis to our offering is a big step forward.”

About Argus Media

Argus is the leading independent provider of market intelligence to the global energy and commodity markets. We offer essential price assessments, news, analytics, consulting services, data science tools and industry conferences to illuminate complex and opaque commodity markets.

Headquartered in London with 1,300 staff, Argus is an independent media organisation with 29 offices in the world’s principal commodity trading hubs.

Companies, trading firms and governments in 160 countries around the world trust Argus data to make decisions, analyse situations, manage risk, facilitate trading and long-term planning. Argus prices are used as trusted benchmarks around the world for pricing transportation, commodities and energy.

Founded in 1970, Argus remains a privately held UK-registered company owned by employee shareholders, global growth equity firm General Atlantic and Hg, the specialist software and technology services investor.

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