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NY 3.0% Fuel Oil (Platts) vs. Gulf Coast HSFO (Platts) 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. - 5:00 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 $0.001 per barrel
Product Code CME Globex: FOC
CME ClearPort: FOC
Clearing: FOC
Listed Contracts Monthly contracts listed for 36 consecutive months
Settlement Method Financially Settled
Floating Price For all contract months prior to January 2017  The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from Platts Oilgram Price Report for New York No. 6 3.0%S Max Fuel Oil (Waterborne Cargo) minus the high and low quotations from Platts Oilgram Price Report for Gulf Coast No. 6 3.0%S (Waterborne) Fuel Oil price assessment for each business day that both are determined during the contract month.

For all contract months commencing with January 2017 and beyond  The Floating Price for each contract month is equal to the arithmetic average of the high and low quotations from Platts Oilgram Price Report for New York No. 6 3.0%S Max Fuel Oil (Waterborne Cargo) minus the high and low quotations from Platts Oilgram Price Report for Gulf Coast HSFO price assessment 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 1086
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing