Plains' Cushing Terminal to Become NYMEX WTI Delivery Poin
10/19 8:08 AM
Plains' Cushing Terminal to Become NYMEX WTI Delivery Point OAKHURST, N.J. (DTN) --- Plains All American on Monday (10/18) announced that CME Group will add Plains' Cushing Terminal as a delivery point to the New York Mercantile Exchange West Texas Intermediate Crude Oil Futures contract, offering market participants an additional outlet to utilize the delivery mechanism of the world's most liquid crude oil futures benchmark. The change will take effect Nov. 8 for the February 2022 contract month, pending regulatory review. Plains made its initial investment at Cushing, Oklahoma in the early 1990s and today is one of the largest operators at the Cushing hub. Cushing, Oklahoma is one of the leading crude oil market hubs in North America. Plains' Cushing Terminal has 27.2 million bbl of storage capacity; 23 pipeline connections--11 inbound and 12 outbound; 15 third-party terminal connections; approximately 0.4 million bpd of average daily volume. (c) Copyright 2021 DTN, LLC. All rights reserved.
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