Subscriber note: Loading periods in Platts USGC waterborne assessments

Following inquires from market participants, Platts would like to remind all interested parties that its waterborne assessments for the value of US Gulf Coast middle distillates and gasoline markets reflect the value of oil loading 10 to 18 days forward from the date of assessment. Platts may review the value of related oil products delivered into the Colonial pipeline as one of elements in the normalization of its final waterborne assessments, particularly in the absence of observable bids and offers for oil in the waterborne market itself. Observed activity in related pipeline markets will always be normalized for the 10-18 days forward loading period reflected in the waterborne assessment, to fully account for any related market structure. Quality, shipping and locational differences will also be taken into account, where relevant. A full description of Platts' methodology for assessing US oil refined product markets, including the waterborne market, can be found online at: http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpe cs/usoilproductspecs.pdf. Please send any comments or questions to americas_products@platts.com and CC to pricegroup@platts.com.