Unlock the Potential of ICE Midland WTI Crude Futures
Record Open Interest and Market Impact
Since its launch, HOU has emerged as a widely recognized benchmark. In November, a record 20 million barrels of Midland WTI crude were delivered through the exchange settlement for HOU and via EFPs. EFPs offer customers the flexibility to deliver barrels to various locations and choose flexible delivery dates. This flexibility has contributed to the growing popularity of HOU.Continental Resources' decision to switch a portion of its Permian production to price off of HOU is a significant endorsement. By replacing the differential to WTI Cushing, HOU has firmly established itself within Midland WTI pricing. Platts, part of S&P Global Commodity Insights, has proposed to launch a daily price assessment of Midland WTI crude as a differential to HOU, effective January 22, 2025. This further validates HOU's position.ICE HOU Pricing and Market Connectivity
ICE HOU pricing reflects the current fundamentals in Houston, delivering physical crude into two major crude oil systems on the U.S. Gulf Coast - the ONEOK Magellan East Houston (MEH) and Enterprise Crude Houston (ECHO) terminals. These terminals are connected to Platts-approved water terminals, facilitating the delivery of Midland WTI into Brent. HOU is the only exchange-guaranteed source of ratably deliverable Midland WTI, with its quality spec matching the Platts spec for Midland WTI.ICE offers various spreads to help customers manage price risk. HOU time spreads and inter-commodity spreads with Brent and WTI Cushing (Domestic Light Sweet) provide valuable tools. Customers can also benefit from high margin offsets of up to 98% when clearing HOU alongside other oil positions cleared at ICE. These offsets are available across a wide range of over 800 oil contracts.Global Oil Complex and Open Interest Growth
Across ICE's global oil complex, open interest stands at 14.3 million contracts, showing an approximately 20% year-over-year increase. Alongside the record highs in HOU, ICE's broader oil futures markets reached a record open interest of 9.5 million contracts on November 28, 2024. Oil is just one part of ICE's extensive global commodity markets, where open interest stands at 63.8 million contracts, up over 10% year-over-year. This growth highlights ICE's dominant position in the commodity market.Jeff Barbuto, Global Head of Oil Markets at ICE, emphasizes the significance of these milestones. He expresses gratitude to partners and customers for their work and support in developing this physically deliverable benchmark for crude oil in the U.S. Gulf Coast.Unlock the Power of FACTSET's Data for Financial Success
Intraday Data - A Time-Sensitive Tool
Intraday data is like a window into the ever-changing world of the stock market. It provides minute-by-minute updates on stock prices, volumes, and other key metrics. This real-time information allows traders to react quickly to market fluctuations and seize opportunities. For example, if a stock shows a sudden spike in intraday trading, it may indicate a significant event or trend. By closely monitoring intraday data, traders can adjust their positions and make more informed decisions. It gives them a competitive edge in the fast-paced world of trading.
However, it's important to remember that intraday data is delayed by at least 15 minutes. This delay can sometimes lead to missed opportunities or incorrect judgments. Traders need to be aware of this and use intraday data in conjunction with other analysis tools. They should also consider the exchange requirements and any additional factors that may affect the data. By doing so, they can make more accurate predictions and manage their risks effectively.
End-of-Day Data - A Historical Perspective
End-of-day data provides a historical record of the stock market's performance. It shows how stocks have performed throughout the day and over a period of time. This data is valuable for analyzing trends, identifying patterns, and making long-term investment decisions. By studying end-of-day data, investors can gain insights into the market's behavior and make more informed choices.
For instance, looking at the end-of-day data for a particular stock over several months or years can help identify seasonal trends or cyclical patterns. This information can be used to time investments or avoid certain periods of market volatility. End-of-day data also allows for comparison between different stocks and sectors, enabling investors to diversify their portfolios and manage risks.
Local Exchange Time and Nasdaq Data
The presentation of quotes in local exchange time is crucial for accurate market analysis. It ensures that the data is synchronized with the local trading environment and reflects the actual market conditions. For U.S. stock quotes, real-time last sale data reported through Nasdaq provides an additional layer of transparency.
Nasdaq is one of the major stock exchanges in the United States and plays a significant role in the trading of stocks. By using Nasdaq data for real-time last sale information, traders and investors can get a more accurate picture of the market. It helps in avoiding delays and discrepancies in the data and ensures that decisions are based on the most up-to-date information.