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Gulf Coast Sour Crude Oil Futures Contract Specs

Product Symbol MB
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
Settlement Price Physical delivery will be based on the Final Settlement Price on the last day of trading. The physical delivery obligation is based on MARS-type crude oil at the Louisiana Offshore Oil Port LLC (LOOP) facilities in Clovelly, Louisiana. Alternate delivery of Basrah Light and Russian Urals will be permitted at fixed differentials. The contract will be available for trading as an inter-commodity spread to WTI on CME Globex, using the MB:CL spread code.
Termination of Trading Trading in the current delivery month shall cease on the third business day prior to the twenty-fifth calendar day of the month preceding the delivery 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. In the event that the official Exchange holiday schedule changes subsequent to the listing of a Crude Oil futures contract, the originally listed expiration date shall remain in effect.
Listed Contracts 36 consecutive months
Settlement Type Physical with delivery at LOOP Facility in Clovelly, LA
Position Limits NYMEX Position Limits
Rulebook Chapter 506
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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