Platts proposes discontinuation of calendar, pipeline monthly P-5 WTI averages

Platts, part of S&P Global Commodity Insights, is proposing to discontinue the calendar monthly and pipeline monthly averages of the P-5 WTI average, effective Sept. 4, 2023.

This will not affect the daily publication of the P-5 WTI average, which is published under AAFEN00.

The daily P-5 WTI average comprises five companies' postings for WTI sold into Cushing each day. Platts databases each company's price individually and then has a separate symbol representing the average each day.

Platts calculates calendar monthly averages and pipeline monthly averages based on the daily P-5 WTI averages. These monthly average calculations are not provided by the individual companies that comprise the P-5 WTI average. The underlying daily posted prices can be updated inconsistently, with prices sometimes submitted the next day, so Platts updated its calculation to not publish a daily price until all five company values have been submitted and published for a given assessment day, a change that went into effect March 1.

Due to the nature of the posting averages, this has meant that the monthly calculations may not reflect a standard monthly average, as seen in other Platts prices.

Platts will continue to publish the individual company-posted prices that go into the daily P-5 WTI average.

Those are published under:

Phillips 66: PSACP09

Plains: PSADF09

Shell: PSADI09

Sunoco: PSADG09

Valero: PSACS09

The symbols affected by this proposed discontinuation are:

AAFEO00 - WTI P-5 Platts Postings Avg MAvg

AAFEO02 - WTI P-5 Platts Postings Avg PAvg

The WTI P-5 monthly and pipeline monthly averages are published on Platts Global Alert pages 211 and 212 and in North American Crude and Product Scan and Oilgram Price Report.

Please provide comments or feedback 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.