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NY 1% Fuel Oil (Platts) vs. Gulf Coast 3% Fuel Oil (Platts) BALMO Futures Contract Specs

Product Symbol NFG
Venue CME Globex, CME ClearPort, Open Outcry (New York)
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. (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)
Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Unit 1,000 barrels
Price Quotation U.S. Dollars and Cents per barrel
Minimum Fluctuation $0.001 per barrel
Floating Price The Floating Price for each contract month is equal to the balance-of-month arithmetic average of the mid-point between the high and low quotations from Platts Oilgram Price Report for New York No. 6 1%S Max Fuel Oil (Cargo) minus the mid-point of the high and low quotations from Platts Oilgram Price Report for Gulf Coast No. 6 3.0%S Fuel Oil (Waterborne) starting from the selected start date through the end of the contract month, inclusive.
Termination of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts One month + the following month for 10 business days prior to the start of the contract month
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 219
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.