Magellan and Enterprise to Develop Joint Houston Crude Oil Futures Contract
The quality specifications will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with delivery capabilities at either Magellans East Houston terminal or Enterprises ECHO terminal in Houston.
- The quality specifications will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with delivery capabilities at either Magellans East Houston terminal or Enterprises ECHO terminal in Houston.
- View the full release here: https://www.businesswire.com/news/home/20210121005953/en/
The industry-recognized quality and consistency of Midland WTI crude oil at Magellans East Houston terminal, combined with flexible and reliable market access offered by both Magellan and Enterprise, make this joint effort a logical advancement for crude oil futures to provide added value for our customers, both domestically and globally, said Michael Mears, Magellans chief executive officer. - We are pleased to join with Magellan on this initiative, which will provide customers with enhanced flexibility, connectivity, market access and price transparency for their physical barrels of crude oil, said A.J.
- Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil.