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WTI Oil
The JSE has introduced the SAFEX listing of a WTI Oil futures contract which is quoted in Rand and linked to the NYMEX listed product. The listing programme will ensure that there are always two expires available for trade. The contract months to be listed are February, June, August and December.
Crude Oil is the most traded commodity in the world with light sweet being the choice of refiners due to its physical properties. The pricing point for WTI is at Cushing Oklahoma. WTI is predominantly produced in the Gulf of Mexico and Northern America and is of a higher quality than
the Brent equivalent due to its lower sulphur content. "WTI" represents West Texas Intermediate but the same product is also known as Texas light sweet.
The SAFEX listed contract price is calculated using the USD price together with the ZAR forward points which translate into a ZAR per ounce price.
One contract is equivalent to 100 US Barrels with the price reflecting the price per barrel.
The JSE Fact sheet is available HERE
What commodity futures are available?
The commodities available for trade are:
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Contact a broker for the flexibility and convenience of having a skilled broker trade commodity futures on your behalf.
