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LOOP Crude Oil Storage Futures Contract Specs
| Contract Unit | 1,000 barrels | ||||
| Price Quotation | $0.001/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: LPSCME ClearPort: LPSClearing: LPS | ||||
| Listed Contracts | Monthly contracts listed for 15 consecutive months | ||||
| Settlement Method | Deliverable | ||||
| Termination Of Trading | Trading 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. | ||||
| Settlement Procedures | Physical | ||||
| Position Limits | NYMEX Position Limits | ||||
| Exchange Rulebook | NYMEX 210 | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Delivery Procedure | The seller shall provide the buyer with a Capacity Allocation Contract (CAC) which allows for the legal right to store crude oil for a calendar month at the LOOP LLC storage facility in Louisiana. | ||||
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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
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Phone: +1 312 930 1000
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