Platts updates publication to not to assess Eastern Canada crude grades on early London close days

Platts, part of S&P Global Commodity Insights, will not to assess Eastern Canada crude grades on holidays when London markets close early, due to a lack of market activity in the limited Canada trading hours, effective March 1, 2023.

The change was announced on Feb. 21, available to view here.

Platts' assessments of Eastern Canadian crude grades are assessed out of the Americas to reflect value at the London close. That time is typically 4:30 pm local time in London, or either 11:30 am or 12:30 pm Eastern time.

A few days per year ahead of some holidays, such as Easter, Christmas and New Years, the London markets close early at 12:30 pm local time in London.

Due to the how early the close is in Eastern Canada and to an observed lack of liquidity in those markets on that day, Platts will not to publish these assessments only on days when London closes early.

Platts' pricing holiday schedule can be found here, and is published for the full year ahead. Platts additionally publishes notes ahead of holidays for any changes to publications.

For calendar year 2023, this includes April 6, Dec. 22 and Dec. 29.

The affected assessments are:

Hebron AHEBA00

Hebron vs Canada Dated Brent Strip AHEBC00

Hebron (C$/CM) AHEBB00

Hibernia AAJKK00

Hibernia vs Canada Dated Brent Strip AAJKM00

Hibernia (C$/CM) AALSN00

Terra Nova AAJUH00

Terra Nova vs Canada Dated Brent Strip AAJUJ00

Terra Nova (C$/CM) AALSP00

White Rose AAVJX00

White Rose vs Canada Dated Brent Strip AAVJY00

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

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