QUOTE AND NEWS
MarketWatch  Nov 28  Comment 
Oil futures climbed Monday, scoring their first gain four sessions. Traders continued to weigh the possibility that the Organization of the Petroleum Exporting Countries will be able to finalize a deal to curb output at a meeting Wednesday....
MarketWatch  Nov 28  Comment 
Oil futures settle higher as traders weigh prospects that OPEC will complete a deal to curb production at midweek.
The Hindu Business Line  Nov 24  Comment 
Edible oils market witnessed a firm trend tracking bullish futures and weak rupee which makes imports costlier. Local refineries increased their rates by ₹10. Palm and soya oil futures closed higher...
MarketWatch  Nov 23  Comment 
Oil futures settled slightly lower on Wednesday. Traders weighed a weekly decline in U.S. crude supplies, a rise in the number of active domestic oil rigs and ongoing chatter among major oil producers ahead of a key meeting next week. January West...
MarketWatch  Nov 23  Comment 
Oil futures climbed Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies in the week ended Nov. 18 fell by 1.3 million barrels. That matched the decline reported by the American Petroleum Institute late...
Benzinga  Nov 22  Comment 
$49.36 - October 31 high $49.20 - Intraday high as of 10:02 AM $48.33 - Current price as of 10:02 AM $48.24 - Monday close $47.73 - Intraday low as of 10:02 AM If content like this is useful to your trading/investing...
MarketWatch  Nov 21  Comment 
Oil futures settled higher Monday, with U.S. prices tacking on roughly 4% on growing expectations that the Organization of the Petroleum Exporting Countries will be able to reach a final agreement next week to curb crude output. Vladimir Putin,...
Benzinga  Nov 21  Comment 
$47.97 - November 1 high $47.79 - Current high as of 9:22 AM $47.74 - Current price as of 9:22 AM $46.46 - Current low as of 9:22 AM $46.36 - Friday close If content like this is useful to your trading/investing...
newratings.com  Nov 21  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures rallied Monday amid comments from Russian ruler Vladimir Putin indicating output quotas are forthcoming. Reports quoting Putin say there is a high probability of a deal being reached at the OPEC meeting at...
The Hindu Business Line  Nov 21  Comment 
Crude oil rose Rs 74 to Rs 3,277 per barrel at the futures market today as speculators widened their bets, tracking positive cues from Asian markets. At the Multi Commodity Exchange, crude oil for ...




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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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