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WTI-Brent Bullet Margins

Ratio Side Start Period End Period Maintenance
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
02/2020

03/2020
02/2020

03/2020
555 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
03/2020

04/2020
03/2020

04/2020
395 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
04/2020

05/2020
04/2020

05/2020
309 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
05/2020

06/2020
05/2020

06/2020
307 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
06/2020

07/2020
06/2020

07/2020
443 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
07/2020

08/2020
07/2020

08/2020
535 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
08/2020

09/2020
08/2020

09/2020
308 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
09/2020

10/2020
09/2020

10/2020
511 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
10/2020

11/2020
10/2020

11/2020
523 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
11/2020

12/2020
11/2020

12/2020
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
12/2020

01/2021
12/2020

01/2021
502 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
01/2021

02/2021
01/2021

02/2021
447 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
02/2021

03/2021
02/2021

03/2021
309 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
03/2021

04/2021
03/2021

04/2021
305 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
04/2021

05/2021
04/2021

05/2021
307 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
05/2021

06/2021
05/2021

06/2021
310 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
06/2021

07/2021
06/2021

07/2021
538 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
07/2021

08/2021
07/2021

08/2021
498 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
08/2021

09/2021
08/2021

09/2021
312 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
09/2021

10/2021
09/2021

10/2021
312 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
10/2021

11/2021
10/2021

11/2021
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
11/2021

12/2021
11/2021

12/2021
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
12/2021

01/2022
12/2021

01/2022
851 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
01/2022

02/2022
01/2022

02/2022
691 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
02/2022

03/2022
02/2022

03/2022
308 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
03/2022

04/2022
03/2022

04/2022
311 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
04/2022

05/2022
04/2022

05/2022
311 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
05/2022

06/2022
05/2022

06/2022
311 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
06/2022

07/2022
06/2022

07/2022
303 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
07/2022

08/2022
07/2022

08/2022
308 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
08/2022

09/2022
08/2022

09/2022
303 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
09/2022

10/2022
09/2022

10/2022
308 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
10/2022

11/2022
10/2022

11/2022
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
11/2022

12/2022
11/2022

12/2022
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
12/2022

01/2023
12/2022

01/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
01/2023

02/2023
01/2023

02/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
02/2023

03/2023
02/2023

03/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
03/2023

04/2023
03/2023

04/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
04/2023

05/2023
04/2023

05/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
05/2023

06/2023
05/2023

06/2023
306 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
06/2023

07/2023
06/2023

07/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
07/2023

08/2023
07/2023

08/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
08/2023

09/2023
08/2023

09/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
09/2023

10/2023
09/2023

10/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
10/2023

11/2023
10/2023

11/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
A

B
11/2023

12/2023
11/2023

12/2023
300 USD
NYM CRUDE OIL SPREADS WTI-BRENT (ICE) BULLET SWAP FUTURES BY 1

1
B

A
01/2020

01/2020
12/2023

12/2023
400 USD