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Crude Oil Last Day Financial Futures Contract Specs

Product Symbol 26
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m.CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit 1,000 barrels
Price Quotation U.S. Dollars and Cents per barrel
Minimum Fluctuation $0.01 per barrel
Floating Price The Floating Price for each contract month shall be equal to the NYMEX Light “Sweet” Crude Oil Futures first nearby contract settlement price on the last trading day for the contract month.
Termination of Trading Trading in the current contract month shall cease on the third business day prior to the twenty-fifth calendar day of the month preceding the contract month. If the twenty-fifth calendar day of the month is a non-business day, trading shall cease on the third business day prior to the last business day preceding the twenty-fifth calendar day.
Listed Contracts CME ClearPort and Open Outcry: 9 years forward using the following listing schedule: consecutive months are listed for the current year and the next five years; in addition, the June and December contract months are listed beyond the sixth year. Additional contract months will be added on an annual basis after the expiration of the December contract, so that (1) an additional June contract and December contract are added nine years forward, and (2) consecutive contract months in the sixth calendar year are filled in.
CME Globex: 1 month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 828
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.