Dock Capacity Auction:
September 10

From the Basin to the Water

The dock capacity auction for Permian WTI futures (HOU) at Magellan’s Galena Park and Seabrook terminals, will enhance export capabilities at Houston area facilities. Auction prices will include all the associated costs to move a vessel’s worth of Permian WTI crude to the water, at the Seabrook or Galena Park export facilities for the loading onto vessels.

U.S. Production Meets the Global Market

As record amounts of U.S. crude are moved to the coast for export, oil markets have seen trading activity shift to liquid hubs on the U.S. Gulf Coast. We designed a complete offering to bring a light sweet crude to the global market.

Monthly Average WTI Quality Readings from BridgeTex & Longhorn

Month / Year API Sulfur RVP BS&W Iron Nickel Vanadium Distillation 20% Distillation 50% Distillation FBP
Jun-19 41.80 0.14 7.00 0.06 4.40 0.40 0.60 260 521 1299
May-19 42.20 0.14 7.00 0.06 4.80 0.30 0.40 252 506 1297
Apr-19 42.20 0.16 7.60 0.06 4.00 0.40 0.40 262 517 1299
Mar-19 42.30 0.15 7.80 0.07 6.50 0.30 0.40 252 510 1295
Feb-19 42.10 0.14 8.20 0.07 5.60 0.41 0.51 253 513 1295
Jan-19 42.60 0.13 8.30 0.07 5.90 0.50 0.40 253 513 1298
Dec-18 43.10 0.13 8.20 0.07 5.30 0.30 0.30 236 494 1297
Nov-18 43.00 0.12 8.20 0.07 6.10 0.40 0.40 240 496 1289
Oct-18 42.60 0.12 7.90 0.06 4.40 0.30 0.30 246 501 1295
Sep-18 42.20 0.12 7.30 0.07 - - - - - -
Aug-18 42.20 0.12 7.00 0.06 - - - - - -
Jul-18 42.20 0.13 6.90 0.07 - - - - - -
Jun-18 42.50 0.13 7.10 0.08 - - - - - -
May-18 42.70 0.13 7.50 0.08 - - - - - -
Apr-18 42.80 0.14 7.90 0.08 - - - - - -
Mar-18 42.70 0.15 8.10 0.09 - - - - - -
Feb-18 42.50 0.14 8.40 0.08 - - - - - -
Jan-18 42.90 0.13 8.60 0.08 - - - - - -
Dec-17 42.60 0.14 8.30 0.07 - - - - - -
Nov-17 42.40 0.13 8.00 0.09 - - - - - -
Oct-17 42.40 0.13 7.70 0.07 - - - - - -
Sep-17 42.50 0.16 7.20 0.06 - - - - - -

Permian WTI Futures

Spreads
Additional Inter-commodity spreads will be offered to help customers mitigate price risk between various locations and grades:
  • Permian WTI (Houston) vs ICE WTI Futures (Cushing) - price and quality differential between Mid-continent WTI vs Permian WTI Houston
  • Permian WTI (Houston) vs ICE Brent Futures - U.S. crude where it meets the water vs the global crude oil benchmark
Contract Size
Each contract represents 1,000 barrels and the price increment is $0.01 per barrel.
Product Quality
A predictable quality specification that reflects Permian WTI crude delivered directly from the Permian Basin.

Deliverable into the MEH Terminal off the Bridge Tex and Longhorn pipelines and tested at the origin and destination.

Full quality specifications are published in the Magellan Tariff for the above mentioned pipelines.