These prices are posted anonymously, without identifying the individual price reporting service. If there are less than five contributions to the index, the outliers are not removed and, if there are less than three contributions, the index is not published for that business date. The components are then averaged together to calculate the New York Mercantile Exchange Middle East crude oil index. The Exchange publishes the Dubai component, the Oman component, the index, and the running average of the index each day. The final settlement is determined on the final business day of the contract month.
All times are New York time.
Additionally, trading can be executed at an average differential to the previous day s settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours. No price limits. Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading shall cease on the third business day prior to the last business day preceding the 25th calendar day.