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Brent Crude Oil vs. Dubai Crude Oil (Platts) BALMO Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.001 per barrel
Product Code CME Globex: BDB
CME ClearPort: BDB
Clearing: BDB
Listed Contracts Monthly contracts listed for 3 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the Balance of Month arithmetic average of the Brent Crude Oil (ICE) Futures first nearby contract settlement price minus the mid-point between the high and low quotations from Platts Crude Oil Marketwire for the Dubai front month price for each business day during the contract month (using Non-common pricing), except as noted below.  

The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby Brent Futures contract will be used.
Termination Of Trading Trading terminates on the last business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1087
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing