November 6, 2018 / 7:56 PM / in 14 days

CME Houston oil futures trade volumes hit 26 lots on first day

NEW YORK, Nov 6 (Reuters) - CME Group’s newly launched crude oil futures contract deliverable at Houston had about 26 lots that changed hands on the first day of trading on Monday, according to data from the exchange:

* The January Houston contract ended the session Monday at $69.62 a barrel while benchmark January U.S. crude futures delivered at Cushing, Oklahoma, settled at $63.21 a barrel.

* CME’s new Houston futures contract, deliverable at Enterprise Products Partners LP’s Houston system, can also be traded versus WTI Cushing as an exchange-listed spread.

* Rival Intercontinental Exchange Inc reported two weeks ago that 446 lots of its West Texas Intermediate oil contract, deliverable at Magellan Midstream Partners LP’s East Houston terminal, changed hands on its first day of trading, spread across about three delivery months.

* The U.S. Gulf Coast, and in particular Houston, has gained prominence as a trading hub since Washington lifted a decades-old ban on exports. (Reporting by Devika Krishna Kumar in New York; Editing by Tom Brown)

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