ICE, Magellan to offer dock capacity to Houston oil futures customers [Reuters]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Reuters
ICE, Magellan to offer dock capacity to Houston oil futures customers - Reuters 2 Min Read NEW YORK (Reuters) - Intercontinental Exchange Inc and Magellan Midstream Partners LP said on Wednesday they would auction dock capacity at Magellan’s terminals in Galena Park and Seabrook, Texas, for holders of ICE’s Permian West Texas Intermediate (WTI) crude futures contracts. The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan’s East Houston terminal (MEH), the option to load crude directly onto a vessel at Galena Park and Seabrook dock facilities for export, the companies said. The capacity offered will be adequate to fill Panamax and Aframax size vessels, with Suezmax size vessels set to be added in the future. Earlier this year, rival exchange operator CME Group and midstream company Enterprise Products Partners LP teamed up to conduct electronic auctions for crude exports. CME launched its WTI Houston crude futu
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