QUOTE AND NEWS
OilVoice  Oct 17  Comment 
The fight to halt construction of the Dakota Access crude pipeline made its way to the US energy capital as dozens of activists marched and chanted through the streets of downtown Houston. Carrying s
OilVoice  Aug 22  Comment 
Venezuelas thirst for light crude imports could play an interesting role in crimping as much as 300000 bd of its own crude exports. That would amount to a whopping 14 of Venezuelas 2.12 million b
newratings.com  Jun 28  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures rallied Tuesday morning as U.S. stocks were poised to rebound from two days of heavy losses inspired by the UK's Brexit. WTI light sweet crude for August was up $1.20 at $47.50 a barrel, taking...
Forbes  Jun 19  Comment 
Iran has been selling more oil at higher prices in recent weeks. The country sold light crude oil at $47.58 per barrel in the week ended on June 10, a $1.93 higher from the previous week, according to the Teheran Times.
Mondo Visione  Feb 10  Comment 
CME Group, the world's leading and most diverse derivatives marketplace, today announced it reached a trading volume record for WTI Light Sweet Crude Oil futures yesterday, February 9, 2016, of 1,603,771 contracts compared to the previous record...
Reuters  Feb 9  Comment 
Iraq has raised the March official selling price (OSP) for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said.




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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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