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WTI Midland (Argus) vs. WTI Trade Month Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation $0.01/Barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.01 per barrel
Product Code CME Globex: WTT
CME ClearPort: WTT
Clearing: WTT
Listed Contracts Monthly contracts listed for the current year and the next 5 calendar years.  Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the WTI Midland (1st month) differential weighted average (Diff wtd avg) price from Argus Media, which is based on the weighted average floating price of WTI Midland minus the "WTI Formula Basis" price from Argus Media, for the Trade month period beginning with the first business day after the 25th calendar day two months prior to the contract month through the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day.
Termination Of Trading Trading shall cease on the last business day that falls on or before the 25th calendar day of the month prior to the contract month. If the 25th calendar day is a weekend or holiday, trading shall cease on the first business day prior to the 25th calendar day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1142
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing