CME Adds Two Delivery Points to WTI Houston
CME Group on Thursday said it would add two more delivery points for its WTI Houston crude futures contract, pending regulatory review, as it seeks to provide customers with additional options to hedge physical price risk.
* Beginning with the March 2020 contract, customers can take delivery of U.S. light sweet crude oil at Moore Road Junction, a key distribution point for the Houston, Texas, market, the company said.
* CME Group plans to include Free On Board (FOB) delivery at export docks located at Enterprise Houston Ship Channel (EHSC), allowing clients to elect to take direct delivery of waterborne WTI Houston.
* The company also adjusted the requirements for sulfur and metals content for WTI Houston crude, beginning with the March 2020 contract's expiry.
(Reporting by Devika Krishna Kumar in New York; Editing by Tom Brown)