During the week, WTI
and Brent crude moved in the same directions.
However, the US Energy Information Administration (EIA) upwardly revised it's forecast for WTI
and Brent in its April Short-Term Energy Outlook.
Also, HOS are listed on ICE Futures Europe and that represents the right to store 1,000 barrels of Permian WTI
crude oil at Magellan's East Houston Terminal.
Additional NYMEX WTI
Houston Crude Oil Futures records reached include record open interest of 4,004 contracts as of February 7, surpassing the earlier record of 1,824 contracts set on February 6 and record single-day trading volume of 4,430 contracts traded on February 7, surpassing the previous record of 2,232 contracts traded on January 31
Pipeline capacity in some parts of the Permian are so tight that the average wellhead price for oil is $10 per barrel less than WTI
. It is getting so worrisome for producers that many companies are drilling wells but not completing them, or even moving to holdings in other parts of the U.S. Conversely, companies that (https://www.fool.com/investing/2018/08/10/this-company-is-building-permian-basin-oil-pipelin.aspx) own pipelines or (https://www.fool.com/investing/2018/07/27/with-market-conditions-this-good-how-can-marathon.aspx) refineries are posting incredible results.
The abandonment of WTI
, a long-time standard, for the Argus index by SA not only high-lighted some specific problems with WTI
, but also signified on-going shifts in the global energy trading pattern.
There are two variables used in this research, namely the WTI
crude oil return, and the stock market return.
Hedge funds and other money managers boosted net long positions in the three major Brent and WTI
futures and options contracts by the equivalent of 48 million barrels.
The Dubai Gold & Commodities Exchange (DGCX) today announced the launch of an India Silver Quanto futures contract and a mini sized WTI
Oil futures ended up at new highs for 2015, with ICE Brent above $65/b and Nymex WTI
near $60/b for the first time this year.
benchmark West Texas Intermediate (WTI
) for delivery in September, which expires Thursday, dipped 26 cents to $40.54 in midday trade after falling sharply in New York to its lowest level since March 2009.