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RBOB Gasoline Futures (RB) Contract Specifications

What you're trading

The RBOB Gasoline future (RB) gives you exposure to wholesale unleaded gasoline delivered in New York Harbor. RBOB stands for Reformulated Blendstock for Oxygenate Blending — the base stock that gets blended with ethanol to produce finished motor gasoline. RB is used by refiners to hedge production margins (via crack spreads against crude oil), by airlines and fleet operators to hedge fuel costs, and by speculators to trade seasonal demand patterns (summer driving season), refinery outages, and hurricane risk to Gulf Coast refining capacity.

Contract size

42,000 gallons (1,000 barrels) of RBOB gasoline. 

Minimum price fluctuation is $0.0001 per gallon, and each tick is worth $4.20 per contract. A $0.01 move equals $420, and a $0.10 move equals $4,200 per contract.

Trading hours

CME Globex: Sunday 5:00 p.m. CT through Friday 4:00 p.m. CT, with the 4:00–5:00 p.m. CT maintenance halt Monday through Thursday. RB reacts to the weekly EIA Petroleum Status Report (Wednesdays, 9:30 a.m. CT) and to disruptions affecting Gulf Coast and New York Harbor refining or pipeline infrastructure.

Settlement type

Physically delivered. Trading terminates on the last business day of the month preceding the delivery month. Open positions at expiration require physical delivery at New York Harbor — close or roll positions before last trading day to avoid delivery.

Margin snapshot

RB margin can spike around Gulf Coast hurricane activity and refinery incidents. Crack spread traders often hold offsetting CL/HO/RB positions, which can qualify for margin offsets at CME.

Initial margin (overnight)

~$6,500–$9,500 per contract (approximate; varies with volatility)

Maintenance margin

~$5,900–$8,600 per contract

Day-trade margin

Broker-set; often a fraction of overnight margin

Notional value (reference)

~$92,000 at $2.20/gallon

Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.

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