Config.
Marché
Rapport
Unité

COT WTI Physical Crude (NYMEX CL)

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

Crude oil · NYMEX

What is NYMEX WTI physical crude?

WTI Cushing (deliverable)

A long means…

Exposure to a rise in light sweet WTI crude deliverable at Cushing, Oklahoma.

What is this?

NYMEX WTI is US light sweet crude delivered at Cushing, Oklahoma — a pipeline and storage hub, not a wellhead. Delivery is into a terminal or line connected to Enterprise, Enbridge or Plains. The deliverable stream is the Domestic Sweet common stream: a WTI-type blend, 37 to 42 degrees API, sulfur 0.42% or less, including shale crude from the Permian, Bakken and Niobrara. Condensates are excluded. This is the contract the media call “WTI”. It is not a financial twin: delivery is physical, at Cushing.

Producers, refiners and merchants hedge barrels that actually move through Cushing. Taking delivery requires storage or pipeline space at the hub; most positions are closed before then.

Pitfalls

  • Physical CL 067651 ≠ financial 06765A ≠ ICE 1st line 06741Q ≠ ICE Europe 067411.
  • Cushing, not Houston or Midland (other diffs).
  • Long = long WTI crude, not a refining crack.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.