QUOTE AND NEWS
MarketWatch  Dec 12  Comment 
Oil futures finish week with decline of more than 12%
MarketWatch  Dec 12  Comment 
Crude-oil futures for January delivery, the front-month contract, fell $2.14, 3.6%, to settle at $57.81 a barrel on the New York Mercantile Exchange Friday. Prices were hobbled by yet another cut on 2015 demand expectations, this time from the...
Reuters  Dec 12  Comment 
* Traders see need to liberalise physical trading (Adds detail, traders)
USAToday.com  Dec 12  Comment 
Crude oil futures fall to $57.81 a barrel and take stock prices down with them.
The Hindu Business Line  Dec 12  Comment 
Crude oil futures plunged 2.57 per cent to Rs 3,718 per barrel today as participants indulged in offloading their positions amid a weak trend in Asian trade where it sank below the psychological $...
MarketWatch  Dec 11  Comment 
January oil futures settle down 1.6% at $59.95 a barrel
The Hindu Business Line  Dec 11  Comment 
Crude oil futures traded on the Multi Commodity Exchange (MCX) breached a key support at ₹4,000 levels on Monday. This week, it has plunged 8.5 per cent to ₹3,770 a barrel (price around 8 pm Thurs...
Wall Street Journal  Dec 11  Comment 
The U.S. oil price tumbled below $60 a barrel for the first time in five years, intensifying the pain across financial markets and jolting the central banks of some oil-dependent economies into action.
The Hindu Business Line  Dec 11  Comment 
Crude oil futures recovered by 0.65 per cent to Rs 3,876 per barrel today as speculators created positions on the back of rebound in the Asian region.At the Multi Commodity Exchange, crude...
Reuters  Dec 10  Comment 
* Physical markets falling further even as oil futures slump




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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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