New Argus price to bring transparency to growing US crude export markets | Hellenic Shipping News Worldwide

“The US export market has needed an independent source of pricing to value light sweet crude exports,” Argus Media chairman and chief executive Adrian Binks said. “The new Argus WTI fob Houston price provides that solution for the oil trading community.”

The new price will introduce transparency to the export market for light sweet crude. It will complement established Argus benchmark indexes for pipeline WTI Houston and WTI Midland, both of which are used extensively in physical transactions and underpin actively traded futures contracts on the CME and Ice commodity exchanges.

The new price will be for cargoes of 500,000-650,000 bl loading at marine terminals in the Houston area. Prices for other US export grades and locations will also be launched over the next year. These assessments will be for cargoes loading 15-45 days ahead and will be priced as a differential to the Nymex light sweet crude contract.

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New Argus price to bring transparency to growing US crude export markets | Hellenic Shipping News Worldwide.