Was hoping someone out there familiar with this spread might be able to help out here. According to the ice website the min. Price fluctuation is $0.01 / barrel However looking at the current price it is listed as 14.8155 for the Sep12 contract. Im not quite sure how the min price fluctuation fits in with this price? Shouldnt there only be 2 digits?
I think the market trades in 1c increments, however the settlements are based on the following leg calculations: Remember, settlements are not indicative of where the actually bid/ask may be.