The New York Mercantile Exchange, commonly known as NYMEX, is a major commodity futures exchange located in New York City. It specializes in trading energy products, such as crude oil and natural gas, as well as precious metals like gold and silver. NYMEX provides a platform for buyers and sellers to hedge against price fluctuations and manage risk in the commodities market. Founded in 1882, NYMEX has become a key player in global energy markets. It operates under the umbrella of the CME Group, which also includes other exchanges like the Chicago Mercantile Exchange. Traders use NYMEX to access standardized contracts, ensuring transparency and liquidity in commodity trading.