QUOTE AND NEWS
Reuters  Aug 28  Comment 
Mexican state-owned oil company Pemex wants to launch light crude oil imports later this year, potentially reaching up to 70,000 barrels per day (bpd) and aimed at boosting refinery output, the head of its commercial arm said.
Reuters  Aug 18  Comment 
Washington's decision to allow exports of an ultra light crude offers a potential boon to U.S. producers that will bypass drillers in the Permian basin, because the country's fastest growing shale play lacks pipelines or affordable trucking.
Reuters  Aug 15  Comment 
Mexico's state-owned oil company, Pemex, is poised to abandon a decades-old devotion to self-sufficiency in crude oil, entering talks with U.S. companies about importing light crude from its northern neighbor, where output is booming.
Resource Investor  Aug 11  Comment 
On Friday, crude oil lost 0.28% as worries over the situation in Iraq and Ukraine waned. As a result, light crude reversed and re-tested the strength of the support zone. Will it stop further deterioration?
Reuters  Aug 8  Comment 
(Adds details, no comment from companies in 3rd paragraph)
Reuters  Jul 22  Comment 
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) issued a tender on Tuesday to buy about 630,000 barrels (100,000 kilolitres) of Middle Eastern light crude for the government's Strategic Petroleum Reserves .
Resource Investor  Jul 17  Comment 
Light crude rebounded after a drop to the support zone. Could it stop oil bears’ charge?
Resource Investor  Jul 10  Comment 
Light crude hit its lowest level since June 5. Does it mean that oil bulls lost ground?
Reuters  Jul 10  Comment 
(For a list of OSPs, click, for Iranian OSPs click ) TOKYO, July 10 (Reuters) - Iran has set the official selling price (OSP) of its Light crude oil loading in August to Asian buyers at $2.30 a barrel above the average of Oman/Dubai quotes,...




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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.

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