QUOTE AND NEWS
The Hindu Business Line  58 min ago  Comment 
Crude oil futures prices rose 0.12 per cent to Rs 5,062 per barrel today as speculators created positions amid a firm trend in Asia.On the Multi Commodity Exchange, crude oil for delivery i...
The Hindu Business Line  Oct 20  Comment 
If soya oil futures close below 31.50 cents, then CPO could plunge
MarketWatch  Oct 20  Comment 
Oil futures fall modestly, a holding pattern likely to hold until OPEC gives clearer signs about its output.
The Hindu Business Line  Oct 17  Comment 
Crude oil futures recovered 0.29 per cent to Rs 5,107 per barrel today as speculators created positions amid a firm trend in Asia.On the Multi Commodity Exchange, crude oil for delivery in...
The Hindu Business Line  Oct 16  Comment 
US crude oil futures fell more than a dollar on Thursday in early Asian trade, extending a run of losses on concerns over weak oil demand as equity markets tumbled and economic gloom spread. ...
The Hindu Business Line  Oct 16  Comment 
MarketWatch  Oct 15  Comment 
Oil futures end day at two-year low
MarketWatch  Oct 15  Comment 
Oil futures stage comeback following dramatic overnight declines
Mondo Visione  Oct 15  Comment 
Oman crude oil prices on the Dubai Mercantile Exchange traded below $85/barrel Wednesday for the first time in nearly four years, as the four-month long oil market retreat continued with more than $4/b wiped from the previous day's official DME...
newratings.com  Oct 15  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures continued to plummet Wednesday morning, dropping near $80 a barrel for the first time in four years amid mounting concerns about the global economy. U.S. crude for December was down $1.50 at $80.37 a...
MarketWatch  Oct 15  Comment 
Oil futures closes at the latest in a string of multi-year lows.




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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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