WTI Contract definition

WTI Contract means a futures contract for the purchase or sale of light “sweet” crude oil for future delivery in Cushing, Oklahoma and which is subject to the Rules of NYMEX;
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Examples of WTI Contract in a sentence

  • Instead, the June WTI Contract became the active contract on Friday, April 17, two business days prior to the May Contract’s expiration day of April 21.

  • On April 13, CME issued a Globex notice announcing that firms wishing to test negative and zero trade, settlement, and strike prices for Crude Oil futures and options on Crude Oil futures could utilize theadvised CFTC staff that CME was taking operational steps toward supporting negative pricing, as needed, for futures and strikes for options for certain energy products traded on CME’s Globex, including the WTI Contract.

  • Alongside the Brent Crude futures contract,15 the WTI Contract is one of the largest and most widely-traded crude oil futures contracts in the world.

  • Nevertheless, the speed and magnitude of the price moves observed on April 20 in the May Contract (particularly between 1:00 p.m. ET and the end-of-day settlement at 2:30 p.m. ET) were exceptional.10In summary, a variety of factors coincided leading up to, on, and around April 20, when WTI Contract prices fell from $17.73 per barrel at the beginning of the trading session to finally settle at -$37.63 per barrel.

  • This mechanism employs a volume-weighted average price (“VWAP”) of (i) a crude oil contract such as the WTI Contract, or (ii) a price differential to the WTI Contract across a range of days or a period (typically a calendar month).

  • Procedural concerns about the physical delivery process included questions about whether the WTI Contract would trade at negative prices.

  • For the WTI Contract May expiry, market participants who were not intending to make or take delivery of the crude oil underlying the futures contract were expected to close out of their positions by April 21 (the May Contract’s expiration date and last day of trading).

  • In the case of CMA contracts referencing WTI Contract prices, the futures contract expires prior to the actual calendar month end.

  • Price cap LECs must calculate this dollar amount by: (1) dividing the original TIC revenues into TIC revenues attributable solely to the use of the 9,000 MOU assumption when the TIC was first established; and (2) multiplying the result of the division in the first calculation by the June 30, 1997 TIC revenues.

  • The May Contract’s April 20 negative settlement price was the first time the WTI Contract traded at a negative price since being listed for trading 37 years ago.3This Report includes: (i) an executive summary; (ii) background on the WTI Contract; (iii) a discussion of fundamental factors that impacted supply and demand for domestic crude oil; and(iv) an interim analysis of trading activity in the WTI Contract on April 20.

Related to WTI Contract

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  • Seller Contract any Contract (a) under which Seller has or may acquire any rights or benefits; (b) under which Seller has or may become subject to any obligation or liability; or (c) by which Seller or any of the assets owned or used by Seller is or may become bound.

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