WTI Houston Crude Oil Futures
CME Auction: U.S. CrudeGain access to a diverse group of refiners, storage and export facilities. In partnership CME Group and Enterprise Products Partners L.P. introduce WTI Houston Crude Oil Futures with physical delivery. The connection of domestic users and location close to export facilities allows this contract to reflect improved price discovery, liquidity and risk transfer in this growing region.
Starting with the March 2020 contract, trade physically delivered WTI Houston futures (HCL) with quality now more reflective of the crude oil in the Enterprise system. New enhancements include:
- Sulfur is lowering from 0.275% to 0.200% max
- Nickel and Vanadium now have aggregate maximum of 3 ppm, down from 4 ppm max each (8 ppm total)
- Moore Rd is now an available delivery point for buyers
- Eliminating Enterprise service fees for sellers at Genoa Junction and Enterprise Houston Ship Channel (EHSC)
- Free On Board (FOB) delivery at export docks located at Enterprise Houston Ship Channel (EHSC) in Q2 2020
Enterprise Products Partners L.P. (NYSE: EPD) is one of the largest midstream energy companies in the world and a leading North American provider of services linking producers and consumers a full range of hydrocarbon products, including crude oil. Assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for crude oil, NGLs, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.
With a network of 19 ship docks along the Gulf Coast, Enterprise is the leader in crude infrastructure in the Houston area and the largest exporter of crude oil in the nation.
Through its network of pipelines, storage and marine terminals, Enterprise has the capability to aggregate more than 4 million barrels per day (BPD) of various grades of crude oil and averaged more than 800,000 BPD of exports in the second quarter of 2018 with access to approximately 45 million barrels of crude oil storage, 24 million barrels in Houston.
The ECHO terminal, which has 7.4 million barrels of crude oil storage, is connected to every refinery in the Houston area, as well as a network of pipelines from the major producing basins, terminals and import/export docks. From the Permian Basin, Enterprise transports crude oil to Houston through the Midland-to-ECHO pipeline system, which has 575,000 BPD of capacity.
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