QUOTE AND NEWS
Reuters  Feb 6  Comment 
Saudi Arabia cut its monthly oil prices on Thursday for Asian buyers to the lowest level in at least 12 years as global oil prices remain depressed, while raising prices to Europe and the United States. State oil firm Saudi Aramco cut the March...
Reuters  Jan 8  Comment 
Mexican state oil giant Pemex said on Thursday it has proposed an oil swap with the United States under which it would import up to 100,000 barrels a day of light crude and condensates to mix with its own heavier crude at its domestic refineries.
Bloomberg  Jan 8  Comment 
Iraq Raises Basrah Crude Price for Asia, Follows Saudi Lead Iraq, OPEC’s second-largest producer, raised the selling price for February shipments to Asia of its main Basrah...
Reuters  Dec 31  Comment 
* Most U.S. light crude expected to go to Europe, not Asia
Yahoo  Dec 31  Comment 
Mexican crude oil is sailing to the U.S. East Coast at the highest rate in over a decade, according to customs data reviewed by Reuters, in a sign deepening discounts help crack open new markets as domestic ...
Reuters  Oct 29  Comment 
Pierre Andurand, one of the most respected and successful fund managers in the oil industry, said he believed U.S. light crude oil could fall as low as $50 per barrel.
Reuters  Oct 20  Comment 
Iraq's State Oil Marketing Organization (SOMO) has proposed splitting its Basra Light crude supply into two grades and has requested feedback from buyers in Asia, trade sources said on Monday.




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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

Savings Account

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