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LOOP Gulf Coast Sour Crude Oil Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. Dollars and Cents per barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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. New York time/ET (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)
Minimum Price Fluctuation $0.01 per barrel
Product Code CME Globex: MB
CME ClearPort: MB
Clearing: MB
Listed Contracts 36 consecutive months
Settlement Method Deliverable
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.
Settlement Procedures Physical delivery shall be made free-on-board (“F.O.B.”) LOOP’s storage capacity designated for LOOP Sour Storage at Clovelly, Louisiana. The grade specifications shall be based on “LOOP Sour” type crude oil which consists of a fungible blend of Mars, Poseidon, and Segregation 17 crude oil streams.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 506
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing