Subscriber note: Platts to narrow North Sea, Urals, Med, WAF crude price ranges

Platts confirms that it will narrow the low and high assessment range for its North Sea, Urals, Mediterranean and West African crude assessments with effect from August 1, 2013, in order to better reflect the primary mid-point in these assessments. This confirmation follows a proposal to narrow the ranges, which was first published on May 15. Platts will publish a low-high assessment range of $0.02/barrel when the mid-point assessment is a round number, and a $0.01/b spread when the mid-point is assessed to a half cent. This will apply to the crudes' differentials to forward Dated Brent, as well as their outright assessments. Platts currently publishes assessment ranges of between $0.01/b and $0.06/b for its North Sea, Urals, Mediterranean and West African assessments. In publishing tighter assessment ranges, Platts will bring all its EMEA crude assessments in line with the assessed ranges for the various forward Dated Brent strips and some North Sea crude assessments. The change will not impact the underlying assessment methodology nor the published value of the mid-point assessment. Please send any further comments, questions or feedback to europe_crude@platts.com and pricegroup@platts.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.