Platts to launch new crude oil price assessment

Platts is launching a new crude oil price assessment to capture the representative value of crude oil in the US Gulf of Mexico.

Offshore staff

HOUSTON -- Platts is launching a new crude oil price assessment to capture the representative value of crude oil in the US Gulf of Mexico.

The Americas Crude Marker (ACM) will be published on a daily basis and joins the company's existing slate of US sweet and sour crude oil assessments. The ACM assessment each day will reflect the most competitively priced crude oil among four US Gulf Coast pipeline sour crudes: Mars, Poseidon, Southern Green Canyon, and Thunder Horse. The combined production of these crudes exceeds 800,000 b/d.

Platts will publish ACM assessments for the first three months of trade. On March 16, ACM assessments will reflect crudes traded for April, May, and June. The trading month rollover for ACM will take place on the first business day after the 25th of each calendar month, in line with the trading month rollover for the existing sour crude pipeline assessments. On March 26, ACM assessments will reflect trading for May, June, and July.

03/16/2009

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