Delivery point (futures trading)

In a futures contract where the underlying is a physical object, such as grain or oil, the price of the futures contract is quoted assuming delivery of that physical object to a specific physical location in the world.[http://www.cbot.com/cbot/pub/page/0,3181,1059,00.html#D Glossary - delivery point] Chicago Board of Trade For instance, natural gas futures in the United States usually have the Henry Hub as a delivery point,[https://web.archive.org/web/20121015133337/http://www.prnewswire.com/news-releases/nymex-to-launch-nine-new-natural-gas-delivery-point-pipe-options-contracts-58539827.html NYMEX to Launch Nine New Natural Gas Delivery Point Pipe Options Contracts] Nymex - New York Mercantile Exchange and gold may have a delivery point of New York or London. Futures contracts that differ only in the delivery point will typically have slightly different prices, reflecting localized supply and demand and transportation costs.{{Citation needed|date=August 2008}}

West Texas Intermediate crude oil has a delivery point to Cushing, Oklahoma.