LOOP Gulf Coast Sour Crude Oil 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 | $0.01 per barrel | ||||
| Product Code | CME Globex: MBCME ClearPort: MBClearing: MB | ||||
| Listed Contracts | 36 consecutive months | ||||
| Settlement Method | Deliverable | ||||
| Termination Of Trading | Trading in the current delivery month shall cease on the third business day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a non-business day, trading shall cease on the third business day prior to the last business day preceding the twenty-fifth calendar day. In the event that the official Exchange holiday schedule changes subsequent to the listing of a Crude Oil futures contract, the originally listed expiration date shall remain in effect. | ||||
| Settlement Procedures | Physical delivery shall be made free-on-board (“F.O.B.”) LOOP’s storage capacity designated for LOOP Sour Storage at Clovelly, Louisiana. The grade specifications shall be based on “LOOP Sour” type crude oil which consists of a fungible blend of Mars, Poseidon, and Segregation 17 crude oil streams. | ||||
| Position Limits | NYMEX Position Limits | ||||
| Exchange Rulebook | NYMEX 506 | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
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