Platts updates calculation, publication of P-5 WTI average

Platts, part of S&P Global Commodity Insights, has updated the calculation and publication of the P-5 WTI average, effective March 1, 2023.

The decision was announced Feb. 14, available here.

The P-5 WTI average is comprised of five companies' postings for WTI sold into Cushing each day. Platts databases each company's price individually and then has a separate symbol representing the average each day.

Platts is now publishing the P-5 average as N/A until all five values have been submitted and published for a given assessment day. Once all five values have been submitted the P-5 WTI average will be published. This occasionally includes prices submitted the next day effective the previous trading day, in which case the P-5 WTI average will update for the previous day in the database.

Historically when one company's value has not been submitted at the end of a day, Platts uses the last available price for that company in order to calculate the average. When a company submits the price, the symbol for that individual company's price updates in the database, but the P-5 average has not retroactively updated to reflect the newly submitted number.

The P-5 WTI Average is published under AAFEN00.

The individual company posted prices are published under:

Phillips 66: PSACP09

Plains: PSADF09

Shell: PSADI09

Sunoco: PSADG09

Valero: PSACS09

The P-5 WTI average is published on Platts Global Alert pages 250, 212, 210, 211 and 223, and in Oilgram Price Report, North American Crude and Product Scan and in Crude Oil Marketwire.

Please send any feedback or questions to americas_crude@spglobal.com and pricegroup@spglobal.com.