International exchange operator CME Group has teamed up with Enterprise Products Partners to launch an electronic trading platform specifically focused on spot contracts for American crude oil for export, Reuters reports . Scheduled to go live in March, the platform will offer trading in light sweet crude from Midland, Texas, home of the Permian shale play that significantly helped U.S. producers boost their output to all-time highs, turning the country into the largest oil producer in the world. The cargoes to be auctioned by Enterprise Products Partners will be loaded at the Enterprise Houston Ship Channel, CME Group said, adding “The electronic auction will provide a competitive and transparent venue for firms across the world to efficiently hedge U.S. crude oil.” The contracts will be priced on the basis of West Texas Intermediate futures. The crude to be sold will come from the Permian to the Gulf Coast via […]