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WTI Midland (Argus) vs. WTI 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: AFF
CME ClearPort: FF
Clearing: FF
Listed Contracts The current year and the next five (5) consecutive calendar years.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is equal to the arithmetic average of the differential of the WTI Midland (1st month) weighted average price from Argus Media minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month.
Termination Of Trading Trading shall cease on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 856
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing