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WTI Midland (Argus) vs. WTI Financial Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. 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 = $10.00
Product Code CME Globex: AFF
CME ClearPort: FF
Clearing: FF
Listed Contracts Monthly contracts listed for the current year and the next 5 calendar years. List monthly contracts for a new calendar year 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 equal to the arithmetic average of the differential of the WTI Midland (1st month) weighted average price from Argus Media minus the NYMEX Light Sweet Crude Oil Futures first nearby contract month settlement price for each business day that both are determined during the contract month.
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 856
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing