QUOTE AND NEWS
MarketWatch  5 hrs ago  Comment 
Oil futures settle lower, with U.S. prices at their lowest level in about 10 weeks after U.S. government data revealed an unexpected increase in weekly crude supplies.
The Hindu Business Line  Jul 1  Comment 
Crude oil prices declined Rs 22 to Rs 3,799 per barrel in futures trading today as participants trimmed their positions amid a weak trend in Asian trade.Crude oil for delivery in August fel...
MarketWatch  Jun 30  Comment 
Oil futures settled higher on Tuesday following an extension of the deadline for an agreement over Iran's nuclear program and as traders continued to watch developments in Greece's debt negotiations. August crude added $1.14, or 2%, to settle at...
The Hindu Business Line  Jun 30  Comment 
Crude oil futures fell Rs 17 to Rs 3,718 per barrel today as speculators reduced bets amid a weak trend in Asian trade. On the Multi Commodity Exchange, crude for delivery in July dropped Rs...
MarketWatch  Jun 29  Comment 
Oil futures settled at a three-week low on Monday as financial turmoil in Greece sent global stock markets sharply lower and raised concerns over the prospects for energy demand. Traders also looked ahead Tuesday's deadline for a potential deal...
The Hindu Business Line  Jun 29  Comment 
Edible oils prices ruled steady barring palmolein which declined by ₹2 on slack physical demand amid weak futures. Malaysian palm oil and domestic soya oil futures rule weak on expectation of ease...
The Hindu Business Line  Jun 29  Comment 
Crude oil futures slipped Rs 52 to Rs 3,763 per barrel today, in line with a weak trend in Asian trade, as traders cut down their exposure.Crude oil for delivery in July was trading lower b...
MarketWatch  Jun 29  Comment 
Oil futures moved lower in electronic trade early Monday, pushed down by concerns about a possible Greek default and a consequently stronger U.S. dollar. By midday in East Asia, New York-traded August crude-oil futures were down 89 cents, or...
MarketWatch  Jun 26  Comment 
Oil futures saw a slight loss on Friday, ahead of a potential deal between Iran and the West that could lift sanctions on Iran and result in the addition of more oil to the global market. August crude lost 7 cents, or 0.1%, to settle at $59.63 a...
MarketWatch  Jun 23  Comment 
Oil futures settle near a two-week high, with analysts attributing the bounce to technical price triggers, expectations for a U.S. crude-supply decline and a U.S. plan to help Europe defend against security threats.




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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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