SUBSCRIBER NOTE: Platts launches M2, M3 CPC Blend CFD assessments

Following an increase in the traded volume of CPC Blend contracts for difference (CFDs) in the brokered market, S&P Global Platts has begun publishing assessments for second and third month CPC Blend CFD contracts from June 1, 2018.

This decision follows on from a proposal published February 12 and available here: https://www.platts.com/subscriber-notes-details/26890180 A decision was published March 6 and is available here: https://www.platts.com/subscriber-notes-details/26903804 The assessments will be published under the following codes and will be published on Platts Global Alert page 1617.

Assessment Name Code CPC Blend CFD M02 AAOFY00 CPC Blend CFD M03 AAOFZ00

Platts has published an assessment of the 100,000 barrel M1 CPC Blend CFD contract since June 1, 2017 under code AAOFX00.

Additionally, Platts has discontinued the publication of PGA pages 1616 and 1618, which were previously the pages for Urals Med and Urals NWE CFD assessments respectively. As of June 1, 2018, all Urals and Mediterranean crude assessments will be available on PGA 1617 only.

Platts has updated the EMEA PFC Page Index (PGA 1600) to reflect these changes.

The CPC Blend CFD instrument measures the difference between the Platts assessment of the outright price for CPC Blend crude oil and the Platts assessment of the Mediterranean Dated Brent strip. This difference is averaged over the period of validity of the contract, typically one calendar month.

CPC Blend is Kazakhstan's largest crude oil export grade, loading from the Russian Black Sea port of Yuzhnaya Ozereevka near Novorossiisk. Following recent increases in physical crude export volumes, an active swaps market has also developed for the M1 CPC Blend CFD contract.

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