SUBSCRIBER NOTE: Platts proposes to change basis for US crude ANS diff to NYMEX CMA

(Adds feedback deadline of June 16)

S&P Global Platts proposes to change the underlying basis reflected in its assessment of the differential for the US crude Alaska North Slope to a NYMEX WTI Light Sweet Crude Oil futures calendar-month average. This change would take effect July 11, when Platts begins assessing September as the front-month for ANS delivered into the US West Coast.

Platts currently publishes ANS as an outright price and as a differential to a cash West Texas Intermediate at Cushing, Oklahoma, calendar-month average, or CMA; however, most transactions for ANS are currently done on a NYMEX crude CMA basis.

This change would more closely reflect pricing for the ANS differential with market norms. The change would not impact the outright price assessment or its value.

At the same time, Platts proposes to standardize the name of its ANS differential assessment across all publications and on Platts Global Alert. The new name would be "ANS vs NYMEX crude CMA."

ANS is published as a differential under the code AAGWX00. This assessment appears on Platts Global Alert pages 210 and 214, and in the publications Crude Oil Marketwire, North American Crude & Products Scan, Oilgram Price Report and Latin Wire.

Please send any questions or comments by June 16 to americas_crude@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.