Subscriber note: Platts removes final freeze in Mid East crude partials

Following feedback to its announcement on August 14, 2012, Platts confirms that it will be removing the 16:29:00 Singapore time (0829 GMT) cut-off point for final bids and offers in its Market on Close assessment process for Middle Eastern crude oil. Platts will accept changes to bids and offers for Dubai, Oman, Upper Zakum partials up until the 16:30:00 Singapore time close, with effect from November 1, 2012. This change will bring the assessment process for Dubai to similar standards applied for other major benchmarks such as Brent. Increments will be maintained at a maximum of 10 cents/barrel price move per 30 seconds, and a 60-second extension will be triggered by any price move or a rebid/re-offer in the one minute prior to the close of the MOC at 16:30:00 Singapore time. Platts may consider a review of both increments and extensions at a later date. Please provide any further comments to asia_crude@platts.com and pricegroup@platts.com.