Bakken Cushing (Argus) vs. WTI Trade Month Futures - Contract Specs
| Contract Unit | 1,000 barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. - 5:00 p.m. CT |
| Minimum Price Fluctuation | 0.01 per barrel = $10.00 |
| Product Code | CME Globex: BKT CME ClearPort: BKT Clearing: BKT |
| Listed Contracts | Monthly contracts listed for the current year and the next 3 calendar years. List monthly contracts for a new calendar 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 Bakken Cushing differential weighted average (Diff wtd avg) price from Argus Media, which is based on the weighted average floating price of Bakken Cushing minus the "WTI Formula Basis" price from Argus Media, for the Trade month period beginning with the first Business Day after the 25th calendar day two months prior to the contract month through the last Business Day that falls on or before the 25th calendar day of the month prior to the contract month. |
| Termination of Trading | Trading terminates on the 25th calendar day of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates on the prior business day. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
