Platts Suspends Bids and Offers for Products Shipments Transiting Strait of Hormuz

by Ship & Bunker News Team
Monday March 2, 2026

Price reporting agency Platts, a part of S&P Global Energy, has suspended publishing bids and offers for refined products shipments that would need to transit the Strait of Hormuz, in a response to the worsening conflict in the Middle East.

The company has 'suspended publishing bids and offers in the Middle East refined products Market on Close assessment process where they reflect loading at ports within the Persian Gulf that require transit through the Strait of Hormuz until further notice', it said in a note to subscribers on Monday.

"Effective immediately, Platts will not publish any bids or offers for refined products on an FOB Arab Gulf or FOB Fujairah basis for naphtha, gasoline, gasoil, jet fuel or fuel oil that specify, as a condition of the bid or offer, loadings from any ports within the Persian Gulf that require transit through the Strait of Hormuz," the company said.

The firm has also suspended nominations of crude oil grades that require ships to transit the strait.

The US and Israel attacked a series of military facilities in Iran on Saturday, killing Ayatollah Ali Khamenei and several other senior government figures. Iran responded with strikes on US bases and other targets across the Middle East, and appears to be attempting to prevent commercial shipping from moving through the Strait of Hormuz.

At least four ships came under attack in the region on Sunday.

Ship & Bunker News Team
To contact the editor responsible for this story email us at editor@shipandbunker.com