Recent changes introduced in U.S. and Middle East crude oil futures markets (11/21/2018)
Several changes to crude oil futures markets this year have expanded the scope of available contracts for market participants. Two new light, sweet crude oil contracts for delivery in Houston, Texas, began trading recently, expanding hedging and trading opportunities for Permian producers, U.S. Gulf Coast refiners, and foreign purchasers of U.S. crude oil. Also, Saudi Aramco, Saudi Arabia's state-owned oil company, began using the Dubai Mercantile Exchange's Oman contract for determining a portion of its Asian official selling price (OSP). Although not expected to disrupt the roles of West Texas Intermediate (WTI) at Cushing, Oklahoma, or North Sea Brent as benchmarks, the new contracts as well as a major oil producer now using the Oman contract could alter current financial trading for crude oil. ...
Read more at eia.gov
Friday, November 30, 2018
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