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WTI-Brent Financial 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: BK
CME ClearPort: BK
Clearing: BK
Listed Contracts current year + the next 8 years. At the expiration of the December contract month, a new, full year shall be added
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is the arithmetic average of the NYMEX Light Sweet Crude Oil first nearby contract settlement price for each business day that it is determined minus the Brent Crude Oil (ICE) Futures first nearby contract settlement price for each business day that it is determined during the contract month (using Non-common pricing), except as set forth in Section (B) below.

(B) The settlement price of the first nearby contract month for 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 contract will be used.
Termination Of Trading Trading shall cease on the last business day of the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 694
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing