Expanding the Matrix model to the world’s most active crude oil trading hub.
Cushing is the world’s most active crude oil trading hub and the delivery point for the Chicago Mercantile Exchange’s (CME’s) West Texas Intermediate (WTI) crude futures contract—a benchmark price for crude oil around the world.
In March 2017, Matrix Global Holdings, M2 Infrastructure and TransCanada announced an agreement to pursue construction of new crude oil storage tanks on TransCanada’s interconnected facilities, with capacity of 6.2 million barrels. This initiative has the potential to establish the Matrix model at Cushing.
See the press release.
The innovative Matrix model is scalable and easily expanded to many other kinds of commodities and transactions, making it a perfect solution for buying and selling storage capacity around the world.