SUBSCRIBER NOTE: Platts proposes new assessments for US crude grades at Asia close

S&P Global Platts proposes to publish daily assessments for several US crude oil grades at the 0830 GMT Asian market close, with effect from December 1, 2017.

The US is exporting an increasing volume of crude oil to the Asian markets. In the first six months of 2017, the US supplied more than 56 million barrels of crude oil to Asian destinations, about 34% of its total crude oil exports. In all of 2016, the US exported 19.3 million barrels of crude oil to the Asian markets.

To help bring transparency to these markets, Platts is seeking feedback on a proposal to publish assessments for WTI MEH, Light Louisiana Sweet, Southern Green Canyon and LOOP Sour time-stamped as of the 4:30 pm Singapore close (0830 GMT).

The assessments will reflect the value of WTI MEH, Light Louisiana Sweet, Southern Green Canyon and LOOP Sour at the close of the Asian Market on Close assessment process at 4:30 pm Singapore time.

The assessments will reflect the price prevailing during the close of the market in Asia, taking into account the rise or fall in the movement of cash WTI from the time of the assessment at the US market close at 2:15 pm Eastern Standard Time, until the Asian close.

Please send all feedback to americas_crude@spglobal.com, asia_crude@spglobal.com and pricegroup@spglobal.com by October 13, 2017.

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.