Community Forex Questions
Intermediate west texas understanding - WTI
WTI is the key benchmark for North America since it is largely sourced from the Permian Basin in the United States. The majority of the oil comes from Texas. The oil then travels through pipes to the Midwest and Gulf of Mexico, where it is refined. The primary delivery point for physical exchange and price settlement of WTI is Cushing, Oklahoma.
Cushing's hub delivery system consists of 35 pipelines (20 inbound and 15 outbound) and 16 storage terminals.
The hub's storage capacity is 90 million barrels, which is 13% of all oil stored in the United States. Incoming and outgoing volumes are 6.5 million barrels per day. "The World's Pipeline Crossroads" is what Cushing is known for.
Cushing's hub delivery system consists of 35 pipelines (20 inbound and 15 outbound) and 16 storage terminals.
The hub's storage capacity is 90 million barrels, which is 13% of all oil stored in the United States. Incoming and outgoing volumes are 6.5 million barrels per day. "The World's Pipeline Crossroads" is what Cushing is known for.
Oct 25, 2021 04:12