QUOTE AND NEWS
The Hindu Business Line  Aug 10  Comment 
Crude oil futures rose 0.48 per cent to Rs 3,172 per barrel today as speculators raised bets amid a firm trend overseas. At the Multi Commodity Exchange, crude oil for delivery in August was tradin...
Channel News Asia  Aug 10  Comment 
Oil futures rose in early Asian trading on Thursday, adding to gains from the previous session after official figures showed U.S. crude inventories fell more than expected.
MarketWatch  Aug 9  Comment 
Oil futures finished higher Wednesday after the Energy Information Administration reported U.S. crude inventories fell 6.5 million barrels last week, the ninth decline in a row. However, mounting geopolitical tensions between the U.S. and North...
Wall Street Journal  Aug 9  Comment 
Crude stockpiles are down, yes, but what may really please oil exporters is the oil futures curve.
MarketWatch  Aug 9  Comment 
Oil futures finish higher on Wednesday after U.S. government data showed a sharp decline in crude inventory. However, a broader so-called risk-off move in financial markets on mounting tensions between the U.S. and North Korea as well as concerns...
MarketWatch  Aug 8  Comment 
Oil futures finished lower for a second session on Tuesday as investors awaited details from an OPEC meeting to discuss an agreement to limit crude oil production. Crude prices got a brief lift earlier on reports that Saudi Arabia is expected to...
The Hindu Business Line  Aug 7  Comment 
Malaysian palm oil futures on Monday ended lower on expectations of rising production. CPO active month October futures moved against our expectations. An unexpected fall below 2,585 MYR/tonne could d...
The Hindu Business Line  Aug 4  Comment 
Crude oil softened by 0.7 per cent to Rs 3,121 per barrel at the futures trade as speculators trimmed positions, taking weak cues from the overseas markets. At the Multi Commodity Exchange, crude o...
MarketWatch  Aug 2  Comment 
Oil futures gain ground in a choppy session as traders grapple with a smaller-than-expected decline in crude inventories amid a mixed bag of government data.




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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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