The New York Mercantile Exchange (NYMEX) is a major commodities 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 engage in futures and options contracts, helping to manage price risks in these markets. Founded in 1882, NYMEX has become a key player in the global commodities market. It operates under the umbrella of the Chicago Mercantile Exchange Group, which also includes other exchanges. NYMEX plays a crucial role in price discovery and market transparency for various commodities.