By Ron Bousso
LONDON, Feb 22 (Reuters) - BP has been suspended fromthe main European diesel trading platform, significantlyreducing its ability to participate in setting the benchmarkprice of the fuel, traders said.
Traders said BP had been "boxed out" of the Platts Market onClose (MOC) afternoon assessment platform of diesel barges for"not performing their contract obligations" regarding thedelivery or loading of barges.
BP declined to comment on the report. Platts said: "As apolicy, Platts does not confirm or deny when a company is undereditorial review."
It was unclear how long the ban would last. Platts hastemporarily barred firms from participation in its MOC beforedue to market turmoil or concerns over individual companies ortrading behaviour, and the exclusion is often brief.
BP was one of the most active participants in the MOC inJanuary and early February. In the week of Feb. 1 alone itbought around 115 barges, or around 230,000 tonnes, of diesel,an unusually high volume compared to previous weeks.
Vitol, the world's largest trading house, was a major sellerthat same week.
It is not rare for major trading houses to buy or sell largevolumes in the assessment window.
BP last participated in the physical barge platform on Feb.9, though it has been active in swaps trading and the physicalcargo window since then.
Platts competes with Thomson Reuters in providing news andinformation to the energy markets.
(Reporting by Ron Bousso and Libby George, editing by DavidEvans)