What's up with Futures closing prices?

T

taojaxx

Sep CL contract last traded @$79.82 5:00pm today. Next thing I know, closing price is $80.09, which last happened around 2:30p. Works for me as I'm long but WTF?
Is it VWAP? Or is it some dude in Chicago pulling a price out of a dark place depending how his book looks like?
Anybody knows the rules?
TIA
 
Sekiyo said:
Last:79.82
Settlement:80.09
More...
%%
Good;
looked @ both of those. Same way sometimes with ETFs.
I like the lower number, not because it going down as i note this. Or more distant contracts going down.........
I like the lower number[more bearish, less price shocks]= more conservative.
Rules are subject to change.
[But i allow 1% slippage in any market, seldom disappointed on that LOL]:D:D
 
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