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Russian Export Blend Crude Oil (REBCO) Physical Futures Contract Specs

Product Symbol RE
Venue CME Globex, CME ClearPort
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. 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)
Contract Unit 1,000 barrels
Price Quotation U.S. Dollars and Cents per barrel
Minimum Fluctuation $0.01 per barrel
Termination of Trading Trading shall end three business days before the fifteenth calendar day prior to the first day of the delivery month. If the fifteenth calendar day is a business holiday in New York, or a weekend, trading shall end three business days prior to the last business day preceding the fifteenth calendar day.
Listed Contracts 72 consecutive months
Settlement Type Physical delivery of Russian Export Blend Crude Oil (REBCO), which is also known as Urals Crude Oil, occurs at Load Port Primorsk in Russia. This contract shall be governed by and construed in accordance with English Law (without reference to its Conflict of Laws Rules). Matched parties must fulfill their delivery obligations via the substantive term of the standard REBCO cash forward contract, in conformity with cash market practices, which are contained in Appendix A to Rule Chapter 206 of the CME rulebook.
Position Limits NYMEX Position Limits
Rulebook Chapter 206
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.