Options contracts will be added based on the differentials between the second nearby June crude oil futures contract and the third nearby December crude oil futures, and the third nearby December futures and the third nearby June futures; listing all adjacent June-December and December-June spreads through June 2007. Under the current schedule, the new contracts will be for the spread between the June 2006 and December 2006 crude oil futures contracts and the December 2006 and June 2007 futures contracts.
Exchange President James E. Newsome said, "The addition of these spread contracts will give market participants additional means to manage their risk, particularly at this time of great market uncertainty."
