Platts launches US crude assessments London close

Platts launched cash WTI, Light Louisiana Sweet and Mars crude assessments with a timestamp of 4:30 pm London time on March 2, 2009.

These assessments line up with the close of the Dated Brent assessment process and are an addition to the existing set of assessments published in the US reflecting values at 3:15 pm Eastern Time.

Platts is publishing the prompt month and next forward month for LLS and Mars, and the three most prompt months for WTI in the set of assessments.

Platts is publishing an outright price as well as a differential for each of the three crudes -- an EFP in the case of cash WTI relative to NYMEX light sweet crude futures, and a differential to same-month cash WTI in the case of Mars and LLS.

The underlying methodology and specifications for London close Mars, LLS, and cash WTI assessments reflect the underlying methodology for the US close cash WTI, Mars and LLS assessments, with the exception of the assessment timestamp.

These assessments will be published in Dispatch, Crude Oil Marketwire, North American Crude Wire, Oilgram Price Report, and Platts Global Alert pages 12, 555 and 594.

Contacts: Sheela Tobben, +1 212-904-4919, sheela_tobben@platts.com, Esa Ramasamy, +1 713-658-3292, esa_ramasamy@platts.com, with a cc to pricegroup@platts.com.