Fuel Oil Outright - Fuel Oil 1% CIF NWE Cargoes (Platts) Mini Future32857607


A monthly cash settled mini future based on the Platts daily assessment price for 1% CIF NWE Cargoes Fuel Oil.

Market Specifications

Trading Screen Product Name
Fuel Oil Futures
Trading Screen Hub Name
1% CIF NWE Cg (Platts) Mini
Commodity Code
Contract Size
100 metric tonnes
Unit of Trading
Any multiple of 100 metric tonnes
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per metric tonne
Settlement Price Quotation
One tenth of one cent ($0.001) per metric tonne
Minimum Price Fluctuation
One tenth of one cent ($0.001) per metric tonne
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per metric tonne based on the average of the “Mid” quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe cargoes" subheading "CIF NWE/Basis ARA" for "Fuel oil 1.0%" for each business day (as specified below) in the determination period.
Contract Series
Up to 60 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts European Marketscan
MIC Code
Clearing Venues