The Texas Crude Triangle: Driving Global Crude (white paper by General Index & ICE)

The future of US crude pricing: is it time for a shift?

The US crude pricing system is due for a change. Once centered around Cushing, Oklahoma, the market has shifted to the US Gulf Coast, particularly Houston, driven by the Permian Basin’s growing output. WTI Midland, with its superior quality, is now the preferred global crude, even being added to the Brent benchmark.

Houston has emerged as the new hub, offering better infrastructure, export capabilities, and global relevance. With the ICE Midland WTI (HOU) contract gaining traction, the future of US crude pricing is clear:Houston is the epicenter, leaving Cushing behind.

Is it time to rethink how we price US crude?

Co-authored by Mike Wittner, Global Head of Oil Market Research at ICE, and Corey Stewart, Pricing Director at General Index, this white paper will allow you to discover how the ICE Midland WTI (HOU) contract could be the future of US crude pricing.