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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.
www.cmegroup.com/education/articles-and-reports/why-cushing-matters-a-look-at-the-wti-benchmark.htmlWhy Cushing Matters: A Look at the WTI Benchmark - CME Group
Dec 15, 2017 · NYMEX announced it will amend the quality specifications in Rule Chapter 200 of its physically-delivered Light Sweet Crude Oil futures contract effective Tuesday, January 2, starting with deliveries against the January 2019 contract month and beyond.
- Delivery of WTI futures - CME Group
A key feature of WTI Crude Oil futures at CME Group is that...
- Why Cushing Matters: A Look at the WTI Benchmark - CME Group
The shift in the oil market is reflected in the price...
- Delivery of WTI futures - CME Group
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.
Nov 12, 2024 · A key feature of WTI Crude Oil futures at CME Group is that they’re physically delivered. If a trader has a long or short position in the nearest futures contract at the end of the month, they will have to make or take delivery of actual Crude Oil at the WTI delivery point in Cushing, OK.
The shift in the oil market is reflected in the price signals from the NYMEX Light Sweet Crude Oil Futures contract (also called “WTI futures”), which is based on physical delivery of WTI-type crude oil at the Cushing hub.
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.
NYMEX WTI futures are physically deliverable at Cushing. On contract expiry, a participant who has an open long position must accept delivery of physical WTI crude.
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How the NYMEX WTI futures contract works • Physically deliverable at Cushing. • On contract expiry, a participant with an open long position must accept delivery of physical WTI crude. A participant with an open short position must make delivery of physical WTI crude.