Platts changes ANS roll timing and adds differential to ICE Brent CMA

Effective Nov. 1, 2021, Platts has implemented two changes to its Alaska North Slope assessments.

Platts has changed its roll date for the ANS assessment from the first business day on or after the 10th of each month to the first business day of the month. For example, Platts has begun ANS assessments for deliveries in January 2022 on Nov. 1, 2021.

The change is in response to typical trade activity data and timing observed in the market. Spot physical trading for ANS cargoes typically occurs two months in advance and trading is most active between the first of the month through about the 15th of the month.

Platts now publishes the ANS assessment as a differential to the ICE Brent Calendar Month Average for the delivery month being assessed in addition to NYMEX WTI CMA differential. The ICE Brent CMA uses the same calculation as the Platts assessment for the Brent Frontline Swap for the delivery month being assessed. The Brent Frontline Swap that corresponds with the ANS delivery month is under the symbol (BHFSM02). The ICE Brent CMA/Brent Frontline Swap is the weighted average of the assessment value at Houston Market on Close for the futures contract that will be the front month during the ANS assessment delivery month (used for all trading days except expiration day) and the value at Houston Market on Close for the futures contract that will be the month-two contract during the ANS assessment delivery month (used for expiration day only).

For example, on Nov. 1, when Platts begins its assessment for January 2022 delivery ANS, the ANS assessment will be published as a differential to the January ICE Brent CMA. The January ICE Brent CMA would be calculated as a weighted average of the March futures Houston MOC value (19 days) and April futures MOC value (1 day).

The assessments are published under the following Platts symbols:

AANSA00 ANS vs ICE Brent CMA

AANSA03 ANS vs ICE Brent CMA MAvg

The new assessments are available on Platts Global Alert pages 214, 215 and 216. They are also published in Crude Oil Marketwire, North American Crude and Products Scan and Oilgram Price Report. Please send any feedback, comments or questions 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.