WTI Midland (Argus) vs. WTI Trade Month
Futures and Options
WTI Midland (Argus) vs. WTI Trade Month 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: WTT CME ClearPort: WTT Clearing: WTT |
| Listed Contracts | Monthly contracts listed for the current year and the next 7 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 Midland (1st month) differential weighted average (Diff wtd avg) price from Argus Media, which is based on the weighted average floating price of WTI Midland 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. 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. |
| 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. |
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| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
