QUOTE AND NEWS
Mondo Visione  Apr 11  Comment 
Moscow Exchange will facilitate investments in popular financial commodity instruments, and open up new opportunities for precious metals producers and consumers to trade on the Derivatives Market. Light Sweet Crude Oil futures and option...
OilVoice  Apr 9  Comment 
Source: U.S. Energy Information Administration, Annual Energy Outlook 2018 Reference case ...
SeekingAlpha  Mar 15  Comment 
OilVoice  Feb 17  Comment 
The phenomenal surge in United States oil exports over the last year has grabbed headlines and defie ...
The Hindu Business Line  Nov 22  Comment 
Outside US, OPEC to meet November 30 to discuss production targets
Mondo Visione  Nov 1  Comment 
CME Group, the world's leading and most diverse derivatives marketplace, today announced WTI Light Sweet Crude Oil futures open interest surpassed 2.5 million contracts for the first time on Tuesday, October 31. WTI futures open interest...
Channel News Asia  Aug 7  Comment 
U.S. refiners could face a continued squeeze on profit margins in the months ahead as dwindling supplies of heavy crude from Venezuela and elsewhere are leading several to switch to higher-priced but easier-to-refine light, sweet crude.
The Times of India  Aug 3  Comment 
It is for the first time that BPCL, which is largely dependent on OPEC nations for oil imports, buys crude from the US.
Reuters  Jul 13  Comment 
The world is awash with oil, but in pockets of the market lower-quality, sulphur-rich crude is limited and buyers are competing for cargoes.




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This article describes the specific commodity. For information about oil prices in general, see the article on Oil Prices.

Light Sweet Crude Oil is crude oil with a low wax content (as opposed to heavy crude) and low sulfur content (as opposed to sour crude) making it easy to refine. Generally, people use the shortened terms "light crude" and "sweet crude" to refer to light sweet crude, as this is the crude oil most often refined into gasoline, kerosene, and diesel fuel. Light Sweet Crude is traded on the NYMEX (symbol CL) in US Dollars per barrel.

In common practice, and to distinguish the commodity "light, sweet crude" from the descriptive measure "light, sweet crude" (which may refer to other commodities such as brent crude), the term West Texas Intermediate (a specific type of light, sweet crude) is used when referring to the commodity.

The chart at left shows continuos front-month futures prices for Light, Sweet, Crude traded on the New York Mercantile Exchange.

Prices

Light Sweet Crude futures are traded on the New York Mercantile Exchange under ticker symbol CL and are delivered every month of the year. (For more information on commodity tickers, check out the commodity ticker construction page.)

Light vs Heavy Crude

Heavy crude oil is typically defined as having a specific gravity greater than .933; however the distinction is often more functional than empirical, with any crude being labeled "heavy" that does not flow as well as its light counterpart.

Sweet vs Sour Crude

What makes crude oil "sweet" is a low sulfur content (typically < 0.5%) which results in lower refinery costs and fewer impurities. While this is generally the crude oil refined into gasoline, some refining companies, notably Valero Energy (VLO), have developed refining processes that allow them to refine more challenging, but cheaper, higher-sulfur petroleum.

See Also

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