QUOTE AND NEWS
The Hindu Business Line  11 hrs ago  Comment 
Crude oil futures rose 0.36 per cent to Rs 6,070 per barrel today as speculators enlarged their positions, tracking a mixed Asian trend.On the Multi Commodity Exchange, crude oil prices for...
MarketWatch  Apr 3  Comment 
Oil futures edged higher Thursday to reclaim the $100-a-barrel level, buoyed by a climb in monthly U.S. services-sector growth ahead of the much-anticipated monthly jobs report. May crude rose 67 cents, or 0.7%, to settle at $100.29 a barrel on...
The Hindu Business Line  Apr 3  Comment 
A contrasting trend was witnessed in palm oil and soya oil prices on Thursday. On the NCDEX, soya oil futures rose by ₹5-6 but on the spot, it ruled steady in absence of demand. On Bombay Commodit...
MarketWatch  Apr 2  Comment 
Oil futures fell further on Wednesday following weekly data that showed a drop in crude supplies that was unexpected but smaller than the decline reported by a trade group a day earlier. The U.S. Energy Information Administration said crude...
newratings.com  Apr 1  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures tumbled Tuesday ahead of inventory data that is expected to show a significant build in U.S. stockpiles. May oil was down $1.84, or 1.8%, to end at $99.74 per barrel on the New York Mercantile Exchange. It...
MarketWatch  Mar 31  Comment 
Oil futures settled a bit lower on Monday, pulling back from a nearly three-week high as a gauge on Chicago-area businesses recorded a decline. Prices still managed to end the quarter with a gain of more than 3% with hopes for stimulus measures in...
newratings.com  Mar 31  Comment 
WASHINGTON (dpa-AFX) - Crude oil prices are little changed in early trades Monday, after recording gains on three successive sessions last week. Crude oil futures for May are down $0.34 or 0.33 percent at $101.34 a barrel. Besides concerns about...
newratings.com  Mar 28  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures pushed higher Friday, extending strong weekly gains on concerns about global supplies. Prices rose for a third consecutive session as protesters in Libya blocked a key pipeline and tensions over Ukraine...
MarketWatch  Mar 27  Comment 
Oil prices rise further above $100 a barrel on Thursday, settling at their highest close in about three weeks with, analysts attributing the gains to growing global supply concerns as well as a continued drop in crude inventories at a key U.S....




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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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