SUBSCRIBER NOTE: Platts proposes to enhance US Bakken crude assessments

(Adds feedback deadline of June 16)

S&P Global Platts proposes to enhance its daily price assessments for the US' Bakken crude oil market by further defining existing assessments and launching new price assessments to bring greater transparency to this growing market. These new assessments and methodology changes would take effect July 17.

New daily price assessments for the light sweet shale crude would be launched at Patoka, Illinois, and on the US Gulf Coast, reflecting growing demand for Bakken in the Midwest and USGC refining markets and for exports.

These assessments would be published on an outright basis and as a differential to a NYMEX WTI Light Sweet Crude Oil futures calendar-month average, or CMA, in line with existing Bakken crude assessments.

Furthermore, Platts proposes to further define its Bakken ex-Williston Basin assessments. Bakken ex-Williston is published as an outright price under the data code AAXPP00 and as a differential under the code AASRX00. The Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects that have come online recently have led to differences in price for Bakken in the Williston Basin, depending on its location. Therefore, Platts would define its Bakken ex-Williston assessment as for DAPL injection, which allows market participants to also normalize non-DAPL injection barrels to a known data point.

Platts launched its ex-Williston assessments in 2014. This was preceded by assessments for Bakken at Clearbrook, Minnesota, and Guernsey, Wyoming, in 2010.

Platts' Bakken assessments appear on Platts Global Alert pages 210, 214 and 260, and in the publications Crude Oil Marketwire, North American Crude & Products Scan, and Oilgram Price Report.

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.