QUOTE AND NEWS
MarketWatch  Jul 14  Comment 
Oil futures settle higher, recouping nearly half of what they lost a day earlier when prices settled at a two-month low.
Clusterstock  Jul 14  Comment 
TOKYO (Reuters) - Crude prices rose on Thursday in early Asian trading after big losses in the previous session spurred by mounting concerns that the global glut in oil is not going away soon after the latest bearish data out of the United...
MarketWatch  Jul 13  Comment 
Oil futures fell on Wednesday, giving up just about all of the gains from a day earlier to finish back below $45 a barrel. A report from the Energy Information Administration showed a weekly rise in U.S. oil production, as well as increases for...
newratings.com  Jul 13  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures fell Wednesday morning, unable to sustain yesterday's significant rally amid signs that U.S. stockpiles grew last week. U.S. oil inventories rose unexpectedly by 2.2 million barrels, data from...
The Hindu Business Line  Jul 13  Comment 
Crude oil futures slipped Rs 28 to Rs 3,180 per barrel today, in line with a weak trend in Asian trade, as traders cut down their exposure. Crude oil for delivery in August fell Rs 28, or 0.87 per ...
MarketWatch  Jul 13  Comment 
Oil futures settle with a loss of more than 4% after a U.S. government report revealed weekly increases in U.S. output and supplies of gasoline and distillates, along with a smaller-than-expected decline in crude inventories.
MarketWatch  Jul 12  Comment 
Oil futures rallied on Tuesday to settle near their highest level in a week, rebounding from the two-month low seen just a day earlier. A report from the Organization of the Petroleum Exporting Countries showed that OPEC oil output and demand are...
Motley Fool  Jul 12  Comment 
Get a basic guide on how this key commodity market operates.
MarketWatch  Jul 11  Comment 
Oil futures fell on Monday to settle at their lowest level in two months, with prices pressured by expectations for a rise in global production and the potential for weaker energy demand in the wake of the U.K.'s plan to exit the European Union. A...
MarketWatch  Jul 8  Comment 
Oil futures edge higher for the session, but finish the week with a loss of more than 7%.




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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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