Suspension of proposed change for feeder crudes

Following feedback to our initial subscriber note published in July, Platts is indefinitely postponing a plan to revise the methodology for assessing weekly feeder crudes to reflect that week's Monday through Friday averages.

Platts previously announced a proposal that weekly feeder crudes -- including yields, netbacks, freight and spot prices -- would be calculated as a Monday through Friday average, potentially with effect from September 10, 2010.

The proposal has been suspended while Platts further reviews the timeliness of every data component that is incorporated into the final values.

Platts will continue to publish weekly feeder crudes every Friday in the meantime, reflecting averages of the previous five business days until further notice.

For example, feeder crudes published on Friday, August 27 were derived by averaging daily prices effective Friday, August 20 through Thursday, August 26.

The weekly feeder crudes are published in the Oilgram Price Report/OPR Extra, Platts Dispatch, and on PGA Pages MH0173-MH0177, MH0885 and MH0960-MH0969.

For questions/comments please contact Jeff Mower at 212-904-3204 or jeff_mower@platts.com with a cc to pricegroup@platts.com.