Platts updates WTI frontline derivatives to include expiration day futures

Platts, a part of S&P Global Commodity Insights, has started using the prompt-month futures contract up to and including expiration day for the WTI frontline derivatives, effective Nov. 1, 2022

This change was announced Sept. 15: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/091522-platts-to-update-wti-frontline-derivatives-to-include-expiration-day-futures

Platts publishes calendar-month derivatives that settle against the NYMEX light sweet crude futures contract. Platts now determines the value using whichever futures contract is most prompt on each day, including expiration day.

The change to use the first-month contract on expiration day for the WTI frontline derivatives brings it in line with the WTI Financial Futures, which includes the settlement day.

This change affects the WTI frontline derivatives that are published at the London and US closes. All other WTI assessments, including Platts assessments of crude futures values at the close, will be unchanged.

For example, the September WTI frontline is made of October and November WTI futures. The October futures contract expires Sept. 20. Platts previously calculated the September WTI frontline with Sept. 20 as a November futures value, and is now valuing Sept. 20 using October futures.

Please send all questions and comments to oilgroup@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.