WTI Houston (Argus) vs. Brent Trade Month

Futures
Globex Code
WHBG5
Last
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Change
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Volume
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Last Updated22 Jan 2025 01:06:24 AM CT.
Market data is delayed by at least 10 minutes

WTI Houston (Argus) vs. Brent Trade Month 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
$0.01=$10.00
Product Code
CME Globex: WHB
CME ClearPort: WHB
Clearing: WHB
Listed Contracts
Monthly contracts listed for the current year and the next 3 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 WTI Houston (1st month) weighted average index price from Argus Media minus ICE Brent (1st month) price 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. If the 25th calendar day is a weekend or holiday, the Trade month period shall end on the first business day prior to the 25th calendar day.
The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby contract will be used.
The Floating Price is calculated using the non-common pricing convention. In calculating the spread differential, the monthly average for each component leg of the spread shall be calculated by using all trading days in the month for each component leg of the spread, followed by the calculation of the spread differential between the two averages.
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 business day prior to the 25th calendar day.
Position Limits
Exchange Rulebook
Block Minimum
Vendor Codes

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