LOOP Gulf Coast Sour Crude Oil
Developing sour crude at LOOP as a new global benchmark.
LOOP LLC (LOOP) on the U.S. Gulf Coast is emerging as an important new pricing point for medium sour crudes in the global markets.
LOOP’s innovative work on storage auctions, pioneered with Matrix and the Chicago Mercantile Exchange (CME), has enabled access to a wide variety of market participants, accelerating LOOP’s growth as a trading hub.
S&P Global Platts began publishing the price assessment for LOOP Gulf Coast Sour Crude Oil Futures among other crude grades in early 2017. The price assessment is closely watched and is an important indicator of how aggressively U.S. refiners compete with Asian refiners for medium sour crudes.
On the first Tuesday of each month, Matrix hosts an online auction of LOOP Crude Oil Storage Futures and Physical Forward Agreements.