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1. www.cmegroup.com › delivery-of-wti-futuresDelivery of WTI futures - CME Group

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   Nov 12, 2024 · Physical delivery means that a futures position is turned into real oil. In technical terms, the futures and the physical will converge at the end of the trading month. This transfer from buyer to seller happens in Cushing, OK, one of the largest Crude Oil storage sites in the world. The Cushing physical delivery mechanism is comprised of a ...

2. www.cmegroup.com › education › articles-and-reportsWhy Cushing Matters: A Look at the WTI Benchmark - CME Group

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   At the heart of the global pricing network, the Cushing hub provides the physical delivery mechanism for the NYMEX WTI futures contract. When the WTI futures contract was first listed in 1983, Cushing was already a vibrant hub for cash market trading of crude oil with a network of pipelines, refineries, and storage terminals: the obvious choice for the delivery point.

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3. www.ice.com › insights › energyWhat are the differences between ICE Brent and NYMEX WTI Futures?

   www.ice.com › insights › energy

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   NYMEX WTI (Cushing) futures contracts expire three business days prior to the twenty-fifth calendar day of the month before delivery (adjusted earlier if the twenty-fifth is not a business day). Physical delivery is made between the first and last day of the delivery month. For example, the May 2020 contract expired on April 21, 2020. For that ...

4. oilprice.com › futures › wtiWTI Crude Oil Futures And News - OilPrice.com

   oilprice.com › futures › wti

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   WTI futures contracts are typically settled through physical delivery. If a trader holds a contract until expiration and does not offset or roll over the position, they must provide or take ...

5. www.cmegroup.com › education › articles-and-reportsWhy Cushing Matters: A Look at the WTI Benchmark

   www.cmegroup.com › education › articles-and-reports

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   At the heart of the global pricing network, the Cushing hub provides the physical delivery mechanism for the CME Group’s NYMEX WTI futures contract. When the WTI futures contract was first listed in 1983, Cushing was a vibrant hub for cash market trading of crude oil with a network of pipelines, refineries, and storage terminals.

6. rbnenergy.com › the-cost-of-crude-at-cushing-theThe Cost of Crude at Cushing – The CMA Roll Adjust and WTI P ...

   rbnenergy.com › the-cost-of-crude-at-cushing-the

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   Nov 8, 2012 · Today we conclude a two-part look at WTI spot crude pricing. In Part 1 (see The Cost of Crude at Cushing – WTI and the NYMEX CMA) we reviewed the relationship between NYMEX WTI futures and physical crude delivery at Cushing, OK. This blog probably won’t make sense unless you read Part 1 first.

7. People also ask

   Are Nymex WTI (Cushing) futures physically deliverable?

   • NYMEX WTI (Cushing) futures are physically deliverable at Cushing. On contract expiry, a participant who has an open long position must accept delivery of physical WTI crude. Similarly, a participant who has an open short position must make delivery of physical WTI crude.

   What are the differences between ICE Brent and NYMEX WTI Futures?

   www.ice.com/insights/energy/what-are-the-differences-between-ice-brent-and-nymex-wti-futures

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   What is the Cushing hub?

   • At the heart of the global pricing network, the Cushing hub provides the physical delivery mechanism for the CME Group’s NYMEX WTI futures contract. When the WTI futures contract was first listed in 1983, Cushing was a vibrant hub for cash market trading of crude oil with a network of pipelines, refineries, and storage terminals.

   Why Cushing Matters: A Look at the WTI Benchmark

   www.cmegroup.com/education/articles-and-reports/why-cushing-matters-a-look-at-the-wti-benchmark-old.html

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   Why is Cushing a key nexus of the crude oil market?

   • When the WTI futures contract was first listed in 1983, Cushing was a vibrant hub for cash market trading of crude oil with a network of pipelines, refineries, and storage terminals. Today, Cushing is the key nexus of market fundamentals for the global crude oil market, with nearly two dozen pipelines and 20 storage terminals.

   Why Cushing Matters: A Look at the WTI Benchmark

   www.cmegroup.com/education/articles-and-reports/why-cushing-matters-a-look-at-the-wti-benchmark-old.html

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   When does Nymex WTI (Cushing) expire?

   • NYMEX WTI (Cushing) futures contracts expire three business days prior to the twenty-fifth calendar day of the month before delivery (adjusted earlier if the twenty-fifth is not a business day). Physical delivery is made between the first and last day of the delivery month. For example, the May 2020 contract expired on April 21, 2020.

   What are the differences between ICE Brent and NYMEX WTI Futures?

   www.ice.com/insights/energy/what-are-the-differences-between-ice-brent-and-nymex-wti-futures

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   Is WTI Midland better than WTI Cushing?

   • WTI Midland is of a significantly higher quality than WTI Cushing crude: it is lighter, sweeter, and has a lower metal content. In contrast, WTI Cushing, or US Domestic Sweet (DSW), quality can be met by blending crudes, including Canadian crude and Permian extra light or condensates. WTI Cushing has “dumbbell” crude quality issues.

   What are the differences between ICE Brent and NYMEX WTI Futures?

   www.ice.com/insights/energy/what-are-the-differences-between-ice-brent-and-nymex-wti-futures

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   What is the physical delivery requirement of WTI futures?

   • The physical-delivery requirement of WTI futures is a direct link to the underlying physical market. A regulated futures contract provides each buyer and seller with access to the clearinghouse and a financial guarantee for their trades.

   Why Cushing Matters: A Look at the WTI Benchmark

   www.cmegroup.com/education/articles-and-reports/why-cushing-matters-a-look-at-the-wti-benchmark-old.html

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8. www.ice.com › publicdocs › ICE_Midland_WTI_HOU_COQAICE Midland WTI (HOU) Futures

   www.ice.com › publicdocs › ICE_Midland_WTI_HOU_COQA

   As the physical delivery point for NYMEX WTI Cushing, inventory increases and decreases can lead to price volatility for WTI Cushing. This adds unnecessary risks for both pricing and hedging. Source: S&P Global Commodity Insights – North American Crude Oil Markets Short-term Outlook, March 2024.