Crude Oil k&g petroleum 2017 Futures And Options Market
Crude oil is the world’s most actively traded commodity. Mild, sweet crudes are most well-liked by refiners due to their low sulfur content material and comparatively high yields of excessive-worth products resembling gasoline, diesel gas, heating oil, and jet gas.
NYMEX, a member exchange of CME Group, also lists for buying and selling electronically a financially settled futures contract for Dubai crude oil; a futures contract on the differential between the light, sweet crude oil futures contract and Canadian Bow River crude at Hardisty, Alberta; and futures contracts on the differentials of the light, candy crude oil futures contract and 4 domestic grades of crude oil: Mild Louisiana Candy, West Texas Intermediate-Midland, West Texas Sour, and Mars Blend.
NYMEX Crude Oil Futures Contract Specifications
Crude Oil Futures
– supplies light “sweet” crude oil to the purpose of connection between vendor’s incoming and purchaser’s outgoing pipeline or storage facility which is free of all liens, encumbrances, unpaid taxes, charges and other charges;
– within the event of the purchaser’s election to take delivery by interfacility switch (“pumpover”) to both TEPPCO, Cushing or Equilon Pipeline Firm LLC, Cushing, from vendor’s delivery facility, bears the lesser of the pumpover cost applicable for pumpover from seller’s supply facility to TEPPCO or Equilon Pipeline Firm LLC;
– retains title to and bears the risk of loss for the product to the point of connection between the buyer’s outgoing and the seller’s incoming pipeline or storage facility.
– By interfacility transfer (“pumpover”) into a designated pipeline or storage k&g petroleum 2017 facility with access to vendor’s incoming pipeline or storage facility.
– By in-tank switch of title to the purchaser without bodily motion of product; if the ability utilized by the seller permits such transfer, or by in-line k&g petroleum 2017 transfer or book-out if the vendor agrees to such switch.
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