Pent-up demand for travel could be released next year if vaccines are administered widely, but can major producers reopen their supply spigots fast enough?
Erik Norland is Executive Director and Senior Economist of CME Group. He is responsible for generating economic analysis on global financial markets by identifying emerging trends, evaluating economic factors and forecasting their impact on CME Group and the company’s business strategy, and upon those who trade in its various markets. He is also one of CME Group’s spokespeople on global economic, financial and geopolitical conditions.
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As the US Gulf Coast continues to mature and increase in importance to the global crude market, the WTI Houston futures contract is continuously developing alongside it. The connection of domestic users and locations close to export facilities allows this contract to reflect ongoing price discovery, liquidity, and risk transfer in this essential region for the US export market.