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Cushing Becomes Delivery Point

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Plains All American has announced that CME Group will add Plains’ Cushing Terminal as a delivery point to the NYMEX WTI Crude Oil Futures contract, offering market participants an additional outlet to utilize the delivery mechanism of the world’s most liquid crude oil futures benchmark.

The change will take effect November 8 2021 for the February 2022 contract month, pending regulatory review.

Plains made its initial investment at Cushing, Oklahoma in the early 1990s and today is one of the largest operators at the Cushing hub. Cushing, Oklahoma is one of the leading crude oil market hubs in North America, and Plains appreciates CME’s recognition of Plains as one of the key liquidity points at the Cushing hub.

PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), and natural gas. PAA owns an extensive network of pipeline transportation, terminalling, storage, and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada.

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