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E-MINI WTI CRUDE OIL
NYMEX E-mini WTI Crude Oil
CONTRACT SPECIFICATION
| Trading Screen Product Name | E-mini WTI Crude Oil | |
| Commodity Code | NQM | |
| Contract Size | 500 barrels / lot | |
| Price Quotation | USD / barrel | |
| Trading Hours | Monday - Friday 06:00 A.M - 05:00 A.M (the next day) |
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| Minimum Price Fluctuation | 0.025 USD / barrel | |
| Contract Series | 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. | |
| Delivery Registration Day | As MXV required | |
| First Notice Day | 4 business days prior to the 25th calendar day of the month prior to the contract month (1 business day prior to the termination of trading in WTI Crude Oil Futures). | |
| Last Trading Day | As MXV required | |
| Margin | As MXV required | |
| Position Limit | As MXV required | |
| Price Limit |
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| Settlement Method | Not deliverable | |
| Quality Standards | Standards are detailed below |
QUALITY STANDARDS
In accordance with the regulations of WTI Crude Oil traded on New York Mercantile Exchange (NYMEX).
Product infomation
WTI crude oil, also known as “Texas sweet, light crude,” is explored and produced in the United States – primarily in Texas, North Dakota, and Louisiana. It is then transported through pipelines to the US Midwest and the Gulf of Mexico for refining. The point of delivery and payment for WTI oil is in Cushing, Oklahoma.
With a distribution system consisting of 24 pipelines and 15 storage terminals, the Cushing distribution center has a storage capacity of up to 90 million barrels of oil and 13 US oil reserves. . Cushing Distribution Center Called "The World's Pipe Crossroads"
WTI crude oil is very light and sweet due to its low sulfur content (0.24%) and low concentration. WTI crude oil is very suitable for gasoline production.
Due to the low sulfur content of the oil, WTI crude is easy to refine, yet the cost to still ship it globally is relatively high.
With a distribution system consisting of 24 pipelines and 15 storage terminals, the Cushing distribution center has a storage capacity of up to 90 million barrels of oil and 13 US oil reserves. . Cushing Distribution Center Called "The World's Pipe Crossroads"
WTI crude oil is very light and sweet due to its low sulfur content (0.24%) and low concentration. WTI crude oil is very suitable for gasoline production.
Due to the low sulfur content of the oil, WTI crude is easy to refine, yet the cost to still ship it globally is relatively high.
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