Subscriber note: Platts to update yield, feeder crude averaging methodology

Platts proposes to update its method of calculation for weekly feeder crude data, and weekly and monthly averages for crude yields and netbacks, to three decimal places beginning May 1, 2013. Currently, these averages are rounded to two decimal places. This change will align the way these values are calculated with averaging standards outlined by Platts in March 2012 (a full subscriber note can be found at http://platts.com/SubscriberNotesDetails/8010945). Under this revised approach, all averages are created by averaging each data point itself -- so the average of any published highs will be the average of the highs for the month or week; the average low will be the average of published lows for the month or week, and the average midpoint will be the average of the midpoints for the month or week. Please send feedback to oil@platts.com and pricegroup@platts.com.