Release Number 7780-18

September 6, 2018

CFTC Staff Issues Report on Impact of U.S. Tight Oil on NYMEX WTI Futures Contract

Washington, DC — The Commodity Futures Trading Commission’s (CFTC) Market Intelligence Branch (MIB) issued a report today that analyzes activity in the NYMEX WTI futures contract.

The report highlights research findings from recent analysis of activity in NYMEX WTI futures contracts as U.S. crude production from tight oil has grown. Staff analyzed futures trading volume and open interest across all listed expirations from January 2003 through March 2018.

Key findings from the research:

This report is part of a series of MIB reports. MIB is a unit of CFTC’s Division of Market Oversight. Part of MIB’s role is to analyze and communicate current and emerging market issues to CFTC leadership and the public and assist the CFTC in making informed policy. MIB staff will publish additional reports on issues of current market interest, such as market liquidity and volatility.