WTI Houston Crude Oil Futures

Energy Market Insights

Gain 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. 

Now Live: WTI Houston Futures and Options

On Monday, November 5, 2018, NYMEX listed the WTI Houston futures (HCL) and options (HCO) contracts for trading on the CME Globex electronic trading platform and for submission for clearing via CME ClearPort. The new WTI Houston Crude Oil futures contract offers physical delivery to the  Enterprise Houston system including the Enterprise Crude Houston (ECHO) terminal, Enterprise Houston Ship Channel (EHSC) or Genoa Junction.

For more information view the contract specifications here: HCL specifications and HCO specifications

Download the WTI Houston futures and options fact card

Download the HCL Spreads Grid

  1. Right click on the button below
  2. Save the file as an .XML on your computer
  3. In CME Direct, select import view in the main menu
  4. Import the grid into CME Direct

HCL: WTI Houston Grid

Key Benefits

Trading HCL

  • Access to the most robust crude infrastructure system in Houston
  • Contract specs provide a consistent, known quality of crude oil in Houston
  • Trade as a Globex exchange listed spread to WTI futures (CL) and Brent futures (BZ) with no leg risk
  • Better capital efficiencies through margin offsets with the most liquid suite of North American crude oil futures
  • Many of the same features as industry leading CL, including expiration calendar, contract size, ability to EFP, and tick size
  • Execute HCL box spreads and calendar spreads on HCL inter-commodity spreads, as well as crack spreads

Contract Codes

Product Name CME Globex/ClearPort Bloomberg Thomson Reuters Composite Chain RICs TT CQG Fidessa ION (Pats & FFastFill) FIS/SunGard Itiviti (Orc and Tbricks) Vela  DTN
WTI Houston Crude Oil Futures HCL HCW 0#HML: HCL HCL HCL HCL HCL HCL HCL QHCL
WTI Houston Crude Oil Options HCO HCW 0#HML+ HCO HCL HCO HCO HCO HCO HCO QHCL

Crude Oil Condensate Distribution System

Crude Oil and Condensate Terminals

About Enterprise Products Partners LP

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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