ICE

ENERGY

ICE Permian WTI

Deliverable in Houston

U.S. production meets the global market. As record amounts of U.S. crude are moved to the coast for export, oil markets have seen trading activity shift to liquid hubs on the U.S. Gulf Coast. We designed a complete offering to bring a light sweet crude to the global market.

Monthly Average WTI Quality Readings from BridgeTex & Longhorn

Month/YearAPISulfurRVPBS&WIronNickelVanadiumDistillation 20%Distillation 50%Distillation FBP
Aug-2142.50.1470.056.60.40.62525001290
Jul-2142.50.137.30.067.60.50.82505021287
Jun-2142.50.157.30.066.60.30.82465061296
May-2142.40.177.70.0710.50.500.702425001291
Apr-2142.50.177.80.069.20.500.602425031296
Mar-2142.40.137.90.067.60.600.602415061291
Feb-2142.70.138.00.056.40.700.502405041298
Jan-2142.80.148.10.066.50.500.402394941291
Dec-2042.30.157.80.065.40.500.502445111300
Nov-2042.40.147.70.067.00.600.402375041301
Oct-2042.40.147.40.054.70.500.302515081298
Sep-2042.20.137.20.055.50.500.302535081254
Aug-2042.10.126.90.055.20.500.302445061296
Jul-2042.20.137.10.064.50.500.302525121302
Jun-20420.117.30.065.40.400.202565121300
May-2042.30.137.50.066.00.40.32545121298
Apr-2042.30.147.70.067.20.40.32535101299
Mar-2041.90.158.10.076.20.60.72615261301
Feb-2041.80.147.90.083.90.50.42535211303
Jan-2041.800.147.600.084.600.400.302625231296
Dec-1942.600.168.000.084.000.300.402484991287
Nov-1942.600.167.800.089.000.500.602484991287
Oct-1941.700.146.200.064.800.500.602515071294
Sep-1941.800.136.400.063.200.500.402625191298
Aug-1941.800.146.500.076.400.500.602615211300
Jul-1941.900.146.600.076.000.400.202525101297
Jun-1941.800.147.000.064.400.400.602605211299
May-1942.200.147.000.064.800.300.402525061297
Apr-1942.200.167.600.064.000.400.402625171299
Mar-1942.300.157.800.076.500.300.402525101295
Feb-1942.100.148.200.075.600.410.512535131295
Jan-1942.600.138.300.075.900.500.402535131298
Dec-1843.100.138.200.075.300.300.302364941297
Nov-1843.000.128.200.076.100.400.402404961289
Oct-1842.600.127.900.064.400.300.302465011295
Sep-1842.200.127.300.07
Aug-1842.200.127.000.06
Jul-1842.200.136.900.07
Jun-1842.500.137.100.08
May-1842.700.137.500.08
Apr-1842.800.147.900.08
Mar-1842.700.158.100.09
Feb-1842.500.148.400.08
Jan-1842.900.138.600.08
Dec-1742.600.148.300.07
Nov-1742.400.138.000.09
Oct-1742.400.137.700.07
Sep-1742.500.167.200.06

Purchase

Permian WTI futures (HOU)

A benchmark for pricing U.S. crude production and exports, with a delivery point in Houston, the most active crude trading hub on the U.S. Gulf Coast. Deliverable into the Magellan East Houston terminal, barrels from the Longhorn and BridgeTex pipeline are recognized for their consistent high quality, which does not allow blending.

Product spec

Store

Storage futures and auction

Short-term storage of Permian WTI barrels is available at Magellan’s East Houston Terminal upon taking delivery of the high quality crude. The ability to bid in an auction for the storage space complements the contract, providing transparent pricing and the ability to plan crude movements.

Export

Dock capacity auction

Enhance export capabilities by acquiring the right to move Permian WTI and WTL barrels directly onto the water through the dock capacity auction. The auction prices include all associated costs to move a vessel’s worth of Permian WTI at Seabrook and WTL at Galena Park for loading crude to the water.

Permian WTI futures

Spreads

Additional Inter-commodity spreads will be offered to help customers mitigate price risk between various locations and grades:

  • Permian WTI (Houston) vs ICE WTI Futures (Cushing) - price and quality differential between Mid-continent WTI vs Permian WTI Houston
  • Permian WTI (Houston) vs ICE Brent Futures - U.S. crude where it meets the water vs the global crude oil benchmark
Contract size
Each contract represents 1,000 barrels and the price increment is $0.01 per barrel.
Product quality

A predictable quality specification that reflects Permian WTI crude delivered directly from the Permian Basin.

Deliverable into the MEH Terminal off the Bridge Tex and Longhorn pipelines and tested at the origin and destination.

Full quality specifications are published in the Magellan Tariff for the above mentioned pipelines.

U.S. Crude for a Global Market