QUOTE AND NEWS
newratings.com  Feb 16  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were slightly higher Thursday morning, but remained in a narrow trading range amid surging U.S. production. U.S. crude-oil inventories have climbed to their highest weekly level on record, the Energy...
newratings.com  Feb 14  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were higher Tuesday ahead of U.S. inventory data. The American Petroleum Institute will release industry figures this afternoon, while the EIA offers government data tomorrow morning. Inventories have...
Agrimoney.com  Feb 13  Comment 
Official data signal a sharp fall in Malaysia's use of the vegetable oil last month. Cargo surveyors report a soft start to February for exports
The Hindu Business Line  Feb 13  Comment 
Malaysian palm oil futures on the Bursa Malaysia Derivatives hit a two-week low, recording a second straight session of declines, as prices were weighed down by prospects of improving levels in produc...
MarketWatch  Feb 10  Comment 
Oil futures climbed Friday after the International Energy Agency lifted its forecast for global crude demand, but prices finished just 3 cents above the week-ago settlement. March West Texas Intermediate crude rose 86 cents, or 1.6%, to settle at...
newratings.com  Feb 9  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures rebounded Thursday morning despite yesterday's report showing a stunning build in U.S. oil inventories. U.S. crude stockpiles surged up 13.5 million barrels last week, adding to the global supply...
MarketWatch  Feb 7  Comment 
Oil futures extended its losses into a second session Tuesday, sending prices to their lowest finish in almost three weeks. "The long side of the oil trade has become extremely crowded recently on OPEC compliance bets," said Tyler Richey,...
MarketWatch  Feb 6  Comment 
Oil futures fell Monday to mark their lowest settlement of the month so far, but held ground above $53 a barrel. Concerns over the potential for a sizable increase in U.S. output put pressure on prices, but tension between the U.S. and Iran, the...
MarketWatch  Feb 6  Comment 
Oil futures finish lower on Monday, suffering from their largest one-day loss since mid-January as concerns over the potential for a significant climb in U.S. crude output helps prices erase last week’s gain.
newratings.com  Feb 2  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were flat Wednesday despite government data confirming a gargantuan build in U.S. oil inventories last week. The EIA reported U.S. stock piles surged 13.5 million barrels last week, roughly in line with...




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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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