Skip to main content

Matrix Markets auctions storage capacity

Published by , Assistant Editor
Tanks and Terminals,

Matrix Markets LLC has announced that 4.75 million bbls of LOOP capacity allocation contracts (CACs) were sold during an auction on 3 October. LOOP LLC is the operator of the largest privately owned crude oil terminal in the US.

LOOP’s CACs include physical forward agreements (PFAs) and block futures contracts, executed pursuant to the rules of NYMEX. During the auction, 2850 block futures were executed at US$0.15 from January– September 2018. In addition, there were 1900 PFAs sold at US$0.15/bbl from December 2017 – September 2018.

LOOP’s CACs were introduced to the market in connection with CME Group’s launch of the first-ever physically delivered crude oil storage futures contract, and provide market participants with the right to store 1000 bbls of crude oil per contract at LOOP’s Clovelly Hub for a specific calendar month. The CME Group futures are listed under the symbol ‘LPS’ and opened for trading on 30 March 2015.

Read the article online at:

You might also like

Nullifire and Carboline unite

Tremco CPG UK has united Nullifire Intumescent Coatings and Carboline Protective Coatings under one business.


Embed article link: (copy the HTML code below):