crude oil exports

CME Group said Thursday it has added dock allocation as another delivery point for its West Texas Intermediate (WTI) Houston futures contracts on the New York Mercantile Exchange.

Pending regulatory review, the new delivery point would be effective with the January 2021 contract. The move would allow WTI Houston crude futures to be delivered directly onto a tanker at the Houston Ship Channel terminal owned by a subsidiary of Enterprise Products Partners LP. 

Under the process, eligible firms could deliver 650,000-850,000 bbl onto a tanker at the terminal.

“As the U.S. crude oil export market has grown, we have seen an increase in demand for direct access to waterborne markets,” said CME’s Peter Keavey, global head of energy. “The dock allocation process is the next...