Plains All American has announced that CME Group will add Plains’ Cushing terminal as a delivery point to the NYMEX WTI Crude Oil Futures contract, offering market participants an additional outlet to utilise the delivery mechanism of the world’s most liquid crude oil futures benchmark.
The change will take effect from November 8, 2021, 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, and Plains said it “appreciates CME’s recognition of Plains as one of the key liquidity points at the Cushing hub”.
For more information visit www.plainsallamerican.com
