U.S. Gulf Coast Crude Oil Gets Its Own Benchmark

Hey hey, we do not even use this forum very often anymore?? What happened lol!

Anyways pretty cool I guess that us gulf coast produced oil will now have it's own benchmark to trade at. Competition in the market is always a welcome sight!

U.S. Gulf Coast Crude Oil Gets Its Own Benchmark

S&P Global Platts and Argus Media will today launch new benchmarks for pricing U.S. crude oil that is being exported to replace the West Texas Intermediate benchmark.

WTI serves as a basis, but it is, in fact, linked to oil delivered to the Cushing, Oklahoma, storage hub.

Reuters reports that oil shipments from the U.S. Gulf Coast are only quoted as a premium or discount to West Texas Intermediate, based on crudes produced in Texas, Louisiana, and North Dakota. Yet Cushing has declined in importance thanks to the shale oil boom, which has made the United States an exporter of crude once again.

“Traders will now have the option of a new benchmark that will represent the totality of the Gulf Coast market,” the head of Americas at Argus Media, Euan Craik, told Reuters.

The Argus benchmark, according to the report, will include oil stored at seven locations along the Gulf Coast, including the East Houston terminal operated by Magellan Midstream Partners, three terminals that are property of Enterprise Products Partners, and three offshore facilities in Houston, Seabrook, and Texas City. At a later point, two more locations will be added to the list, including the Corpus Christi terminal and Nederland in Texas.

I'm going to keep an eye on it for my own reasons and see how I can profit from this. Rules of Acquisition and all.

Flagg dad....yep, we do good with wti and brent in pre London.....idk about this new one. For trading but....its so cool....

Peak oil was a little bit of a lie.....my daddyo, he and his buds were 1,2,3,and 4 in that grad class at Colorado School of Mines....Golden Colorado.....they were hung in their underwear upside down to paint the table rock in town.....big red M....hehe

They took over Mobil and Arco.......Exxon.....they did the Saudi and Niger and Lybia oil geophysics....

No peak oil, they werehiding the us oil in the arctic....all capped till.....

That's how Buffalo Air made their gozillions......flying cargo to the islands of the Arctic in Curtis C 46's and in DC 3's

a reply to: GBP/JPY

Runnin up the reply count here...he he.....this forum goin slow huh.....we used to have an investing forum......that one had to go huh.....yep, get the hail rid of that one, after I started posting my chart hacking ability....bamm, it was gone....

Im a chart hacker....3800% Jan till April.....as seen at Seeking Alpha........PAM model......a record at SeekingAlpha.com

a reply to: GBP/JPY
Nice returns!! When. I first read about peak oil it was on here back in like 2004 2005. I just turned 18 and was freaking out about the end of the world. Then Katrina hit later and gasoline hitting $4 a gallon in many places i was sure the world was about to end.

Then I found out it was all a lie, how many previously capped wells thought dry years prior had actually filled back up???
At this point, there is so much oil that cleaner alternatives are finally able to compete, 2which was always my hope anyways.

I just use this forum for energy news in general to keep things active. I probably have four threads in here I think.