Snapshot for Bloomberg Nymex WTI Cushing Crude Oil First Month 321 Crack Spread (CRK321M1)

Rate Profile Information for CRK321M1

Crack spreads are calculated as follows, Example: based on a 321 CL:HU:HO crack spread, which must all use the same contract month :(((XBF2*2*.42)+(HOF2*1*.42))-(CLF2*3))/3 Please note that all contracts follow the crude contract, so if the front month for CL1 is January, the other components of the calulation should be based on January contracts as well. The HU contacts were replaced with XB contracts starting from Feb 2007. All calculations from Feb 07 on contain XB contract not HU. On CRKS page 2, the 12-month 3:2:1 crack strips are an arithmetic average of twelve cracks divided by 12. And, the other crack strips are averages of their respective 12-month strip ratios. Note: these are Bloomberg calculated spreads which are to be used for price indication purposes only.