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WTI vs. Dubai Crude Oil (Platts) Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. Dollars and Cents per barrel
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Minimum Price Fluctuation $0.001 per barrel
Product Code CME Globex: DCW
CME ClearPort: DCW
Clearing: DCW
Listed Contracts Monthly contracts listed for the current year and the next 5 consecutive years. Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month is the arithmetic average of the Light Sweet Crude Oil Futures first nearby contract settlement price minus the arithmetic average of the mid-point between the high and low quotations from Platts Crude Oil Marketwire for the Dubai front month price for each business day during the contract month (using Non-common pricing)
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 465
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing