QUOTE AND NEWS
MarketWatch  Jul 29  Comment 
Lingering concerns about oversupply and a deluge of refined products weigh on crude oil, send WTI prices lower for the month.
The Hindu Business Line  Jul 28  Comment 
Crude oil rose Rs 10 to Rs 2,841 per barrel at the futures market today as speculators indulged in creating speculative positions, taking positive cues from Asian markets. At the Multi Commodity E...
MarketWatch  Jul 27  Comment 
Oil futures settled under $42 a barrel on Wednesday after U.S. government data showed unexpected increases in weekly supplies of both crude oil and gasoline, along with a climb in total domestic crude production. September WTI crude fell by $1,...
MarketWatch  Jul 27  Comment 
Oil futures fell on Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies rose by 1.7 million barrels for the week ended July 22. That was contrary to the 2.6 million-barrel decline expected by analysts...
MarketWatch  Jul 27  Comment 
U.S. government data reveal the first weekly climb in domestic crude inventories in 10 weeks, a surprise increase in gasoline stockpiles and a rise in total crude production.
MarketWatch  Jul 26  Comment 
Oil futures settled under $43 a barrel on Tuesday, holding ground at their lowest level in three months, as traders continued to fret over the prospects for slowdowns in demand growth and production declines. September WTI crude fell by 21 cents,...
MarketWatch  Jul 26  Comment 
Oil futures trade at lowest level since April
MarketWatch  Jul 26  Comment 
West Texas Intermediate oil futures settle under $43 a barrel at the weakest level since April, while Brent crude rebounds after tapping an 11-week low.
MarketWatch  Jul 25  Comment 
Oil futures fell on Monday to settle at their lowest level in three months, as a glut of petroleum-product supplies implied a slowdown in crude refinery demand and the growing number of active U.S. oil rigs pointed to stronger production....
MarketWatch  Jul 25  Comment 
Oil futures end at their lowest level since late April as steady growth in the number of active rigs drilling for oil in the U.S. fuels expectations of stronger production.




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This article is about the specific futures contract. For the drivers of oil prices in general, see the commodity page on Oil.

Light Sweet Crude Oil futures are traded on the New York Mercantile Exchange under ticker symbol CL in U.S. dollars and cents per barrel.[1]

The chart at left shows front-month crude oil prices on the New York Mercantile Exchange (NYMEX) in U.S. dollars and cents per barrel.

Delivery Dates

Light Sweet Crude Oil futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November and December (all months).[1]

The following is a table with Light, Sweet Crude futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2009CLF9CL/F9-NM
February, 2009CLG9CL/G9-NM
March, 2009CLH9CL/H9-NM
April, 2009CLJ9CL/J9-NM
May, 2009CLK9CL/K9-NM
June, 2009CLM9CL/M9-NM
July, 2009CLN9CL/N9-NM
August, 2009CLQ9CL/Q9-NM
September, 2009CLU9CL/U9-NM
October, 2009CLV9CL/V9-NM
November, 2009CLX9CL/X9-NM
December, 2012CLZ2CL/Z2-NM

Contract Specifications

Contract Size

One Light, Sweet Crude Oil futures contract on the New York Mercantile Exchange is 1,000 U.S. barrels (42,000 gallons).[1]

Tick Value

$0.01 (1¢) per barrel ($10.00 per contract).[1]

Daily Price Limit

$10.00 per barrel ($10,000 per contract) for all months. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.[1]

Trading Hours

  • On the CME Globex electronic platform: 6:00 PM until 5:15 PM, Sunday through Friday with a 45-minute break each day between 5:15 PM (current trade date) and 6:00 PM (next trade date), New York Time.[1]
  • Open Outcry (pit session): 9:00 AM until 2:30 PM, New York Time.[1]

Last Trading Day

Trading terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading shall cease on the third business day prior to the business day preceding the 25th calendar day.[1]

Deliverable Grades

Specific domestic crudes with 0.42% sulfur by weight or less, not less than 37° API gravity nor more than 42° API gravity. The following domestic crude streams are deliverable: West Texas Intermediate, Low Sweet Mix, New Mexican Sweet, North Texas Sweet, Oklahoma Sweet, South Texas Sweet.

Specific foreign crudes of not less than 34° API nor more than 42° API. The following foreign streams are deliverable: U.K. Brent, for which the seller shall receive a 30 cent per barrel discount below the final settlement price; Norwegian Oseberg Blend is delivered at a 55¢–per–barrel discount; Nigerian Bonny Light, Qua Iboe, and Colombian Cusiana are delivered at 15¢ premiums.[1]

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 The New York Mercantile Exchange's contract specification for Light Sweet Crude Oil futures
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