QUOTE AND NEWS
Reuters  Mar 14  Comment 
(Updates April Forozan price in table) TOKYO, March 14 (Reuters) - Iran has set the official selling price (OSP) of its light crude oil loading in April to Asian buyers at $1.81 a barrel above the average of Oman/Dubai quotes, a trader said on...
Resource Investor  Mar 13  Comment 
Light crude declined below the psychological barrier of $100 per barrel for the first time since mid-February.
SeekingAlpha  Mar 5  Comment 
By Morningstar: By Allen Good We think wide Gulf Coast differentials are sustainable through 2014 and could move much higher as an additional 1.4 million barrels per day of pipeline capacity begins delivering crude to the Gulf Coast. Much of...
Biomass Magazine  Jan 23  Comment 
Researchers from the University of Texas at Austin developed "sweet crude" biofuel using genetically engineered yeast cells and household sugar. The yeast was genetically modified to enable up to 90 percent of the the cell mass to become lipids.
Reuters  Jan 20  Comment 
Saudi state oil company Saudi Aramco has informed at least two term buyers that it will supply less Arab Extra Light crude in February due to maintenance at one of its biggest oilfields, industry sources said on Monday.     
The Globe and Mail  Nov 9  Comment 
Train may have been carrying the same type of light crude oil that was on Canadian train that derailed in Quebec town of Lac-Mégantic this summer, killing 47 people
OilVoice  Oct 21  Comment 
Foster Wheeler AG NasdaqFWLT announced today that subsidiaries of its Global Engineering and Construction Group have been awarded contracts for the frontend engineering design FEED for Saudi Ara




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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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