QUOTE AND NEWS
MarketWatch  Nov 20  Comment 
Oil prices hover at just above $75 a barrel, not taking a hit from weak China data.
The Hindu Business Line  Nov 19  Comment 
Crude oil futures fell 0.39 per cent to Rs 4,621 per barrel today after speculators reduced exposures amid a mixed trend in Asian trade.At the Multi Commodity Exchange, crude oil for delive...
The Hindu Business Line  Nov 17  Comment 
Crude oil futures today fell 0.09 per cent to Rs 4,685 per barrel as speculators trimmed positions amid a weak trend in Asian trade.At the Multi Commodity Exchange, crude oil for delivery i...
MarketWatch  Nov 14  Comment 
Crude oil futures are on course to cap a rough week with a nice gain, with prices rising 94 cents, or 1.3%, to $75.15 a barrel in recent trade. Continuous futures have bounced sharply, after hitting a four-year low of $73.25 overnight trade....
The Hindu Business Line  Nov 12  Comment 
An opposite trend was witnessed in the edible oils markets on Wednesday. Futures weakened after lower closing of Malaysian palm oil futures, while the spot market remained positive due to t...
The Hindu Business Line  Nov 11  Comment 
Crude oil futures fell 0.63 per cent to Rs 4,753 per barrel today as speculators trimmed positions amid a weak trend in Asian trade.At the Multi Commodity Exchange, crude oil for delivery i...
Agrimoney.com  Nov 10  Comment 
Malaysia's palm oil inventories rise a little more than expected, as output drops less than forecast. But will dry weather depress yields ahead?
WA Business News  Nov 5  Comment 
US oil futures have sharply rebounded from the prior day's dive after the US petroleum inventories report showed a smaller-than-expected increase in crude oil supplies.
The Hindu Business Line  Nov 5  Comment 
Edible oils futures witnessed sharp drop while the bearish trend continued on the spot market on Wednesday on higher selling amid slack demand. NCDEX soya oil futures dropped over one-and-...




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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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