Platts merchantability standards

Platts assessments reflect oil grades that are of a merchantable quality, as stated in Platts published methodology: "Cargoes must at all times be deemed to fall within industry standards including merchantability of the product."

Grades which are not widely merchantable -- for instance oil products containing non-standard blendstocks, or unusually high levels of certain additives or blendstocks -- will not be reflected in the assessments.

As such, grades that are not of a merchantable quality are not deliverable in the physical settlement of transactions concluded during the Market on Close (MOC) process.

Platts full assessment methodology and specifications are available at http://www.platts.com/MethodologyAndSpecifications/Oil.

For questions & comments contact jonathan_nonis@platts.com, paul_young@platts.com and Thomas_Giaever-Enger@platts.com.