U.S. Production Meets the Global Market


WTI Permian

The physically delivered Permian WTI futures contract has a delivery point in Houston, bringing a light sweet U.S. crude to the global market.

The future creates a new benchmark for pricing U.S. domestic crude production, and is deliverable to the most active crude trading hub on the U.S. Gulf Coast.

It provides a controlled, predictable quality specification that will give the market a benchmark for pricing U.S. crudes where they meet the global market.

Access additional hedging and trading opportunities in a liquid, electronic marketplace from October 22*.

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* Subject to satisfactory conclusion of applicable regulatory processes and approval.

 

Permian WTI

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 BridgeTex and Longhorn pipelines and tested at the origin and destination. Full quality specifications are published in the Magellan Tariff for the above mentioned pipelines.

ICE Permian WTI

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