WTRG Economics RBOB Gasoline Oil Futures Prices - NYMEX
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RBOB Gasoline Futures Price      Contract Information
Wednesday, October 29, 2014: NYMEX RBOB Gasoline Price for November delivery closed up $0.0246 at $2.2207 per gallon.
    
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Gasoline Futures Price Close
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New York Harbor RBOB Gasoline

Reformulated Gasoline Blendstock for Oxygen Blending (RBOB) Futures
Trading Unit
42,000 U.S. gallons (1,000 barrels).
Price Quotation
U.S. dollars and cents per gallon.
Trading Hours (All times are New York time)
Open outcry trading is conducted from 10:05 AM until 2:30 PM.

Electronic trading is conducted from 6:00 PM until 5:15 PM via the CME Globex® trading platform, Sunday through Friday. There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date).
Trading Months
12 consecutive months on a rolling basis, starting with the January 2006 contract month.
Trading at Settlement (TAS)
Trading at settlement is available for the front two months except on the last trading day and is subject to the existing TAS rules. Trading in all TAS products will cease daily at 2:30 PM Eastern Time. The TAS products will trade off of a "Base Price" of 100 to create a differential (plus or minus) in points off settlement in the underlying cleared product on a 1 to 1 basis. A trade done at the Base Price of 100 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day.
Minimum Price Fluctuation
$0.0001 (0.01˘) per gallon ($4.20 per contract).
Maximum Daily Price Fluctuation
$0.25 per gallon ($10,500 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $0.25 per gallon in either direction. If another halt were triggered, the market would continue to be expanded by $0.25 per gallon in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.
Last Trading Day
Trading terminates at the close of business on the last business day of the month preceding the delivery month.
Settlement Type
Physical.
Delivery
F.O.B. seller's facility in New York harbor ex-shore. All duties, entitlements, taxes, fees, and other charges paid. Requirements for seller's shore facility: capability to deliver into barges. Delivery may also be completed by pipeline, tanker, book transfer, or inter- or intra-facility transfer. Delivery must be made in accordance with applicable federal, state, and local licensing and tax laws. Delivery shall comply with all state laws related to oxygen content.

Complete delivery rules and provisions are detailed in Chapter 191 of the Exchange Rulebook.
Delivery Period
Deliveries may only be initiated the day after the fifth business day and must be completed before the last business day of the delivery month.
Alternate Delivery Procedure (ADP)
An alternate delivery procedure is available to buyers and sellers who have been matched by the Exchange subsequent to the termination of trading in the spot month contract. If buyer and seller agree to consummate delivery under terms different from those prescribed in the contract specifications, they may proceed on that basis after submitting a notice of their intention to the Exchange.
Exchange of Futures for Physicals (EFP)
The commercial buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position.
Grade and Quality Specifications
Generally conforms to industry standards for reformulated regular gasoline blendstock for oxygen blending (RBOB) with 10% denatured fuel ethanol (92% purity) as listed by the Colonial Pipeline for fungible F grade for sales in New York and New Jersey. RBOB is a wholesale non-oxygentated blendstock traded in the New York Harbor barge market that is ready for the addition of 10% ethanol at the truck rack.

Month
Reid Vapor Pressure (RVP)
pounds per square inch
Volatile Organic Compounds (VOC) Percentage Reduction
January
15.0 max
N/A
February
15.0 max
N/A
March
13.5 max
N/A
April
N/A
23.4 min
May
N/A
23.4 min
June
N/A
23.4 min
July
N/A
23.4 min
August
N/A
23.4 min
September 1-15
N/A
23.4 min
September 16-30
13.5 max
N/A
October
13.5 max
N/A
November
15.0 max
N/A
December
15.0 max
N/A

Margin Requirements
Margins are required for open futures positions.
Trading Symbol
RB
RBT (TAS Code)


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James L. Williams
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