Matrix Markets auctions storage capacity
Published by Anna Nicklin,
Assistant Editor
Hydrocarbon Engineering,
Matrix Markets LLC has announced that 4.75 million bbls of LOOP capacity allocation contracts (CACs) were sold during an auction on 3 October. LOOP LLC is the operator of the largest privately owned crude oil terminal in the US.
LOOP’s CACs include physical forward agreements (PFAs) and block futures contracts, executed pursuant to the rules of NYMEX. During the auction, 2850 block futures were executed at US$0.15 from January– September 2018. In addition, there were 1900 PFAs sold at US$0.15/bbl from December 2017 – September 2018.
LOOP’s CACs were introduced to the market in connection with CME Group’s launch of the first-ever physically delivered crude oil storage futures contract, and provide market participants with the right to store 1000 bbls of crude oil per contract at LOOP’s Clovelly Hub for a specific calendar month. The CME Group futures are listed under the symbol ‘LPS’ and opened for trading on 30 March 2015.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/04102017/matrix-markets-auctions-storage-capacity/
You might also like
The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process
In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
