Platts to assess ex-Cushing WCS beginning June 1

Following a period of industry feedback, Platts has decided to launch a new Western Canadian Select crude oil assessment on a FOB Cushing, Oklahoma, basis beginning June 1 2012.

Platts will publish the WCS ex-Cushing assessment as an outright price, and as a differential to the calendar month average (CMA) of the NYMEX light, sweet crude oil contract and reflect barrels to be lifted/injected about one month out, and would roll over using the Canadian rollover schedule. WCS has an API gravity of 19-22 and a sulfur content of 2.8-3.5%.

The new price assessments will appear on Platts Global Alert pages 230 and 232, as well as in Crude Oil Marketwire, Oilgram Price Report and North American Crude Wire.

Please send questions or comments to: americas_crude@platts.com and pricegroup@platts.com.