QUOTE AND NEWS
The Hindu Business Line  2 hrs ago  Comment 
Crude palm oil futures on Bursa Malaysia Derivatives ended slightly higher on Monday, as Indonesia’s plan to impose levies on crude palm exports triggered hasty buying. Indonesian officials are...
The Hindu Business Line  11 hrs ago  Comment 
Crude oil futures fell 1.63 per cent to Rs 2,900 per barrel today as speculators trimmed positions amid a weak trend in Asian markets.On the Multi Commodity Exchange, crude oil for delivery...
MarketWatch  Mar 20  Comment 
Oil futures rallied on Friday with the drop in the U.S. dollar fueling a gain for the week, the first in five weeks. April crude , which expired at the close, rose $1.76, or 4%, to settle at $45.72 a barrel on the New York Mercantile Exchange. May...
The Hindu Business Line  Mar 20  Comment 
The edible oils market in Mumbai witnessed dull trading for the second consecutive day following slack demand and sharp decline in Malaysian palm oil futures. Palmolein dropped by ₹1/10 kg...
MarketWatch  Mar 20  Comment 
Oil futures climbed sharply on Friday, getting a boost from a much weaker dollar as the market readied for the expiration of the April contracts on the New York Mercantile Exchange. April crude , which expires at the close, rose $1.73, or 3.9%, to...
MarketWatch  Mar 20  Comment 
Crude-oil futures rally Friday to post their first weekly gain in five.
MarketWatch  Mar 19  Comment 
Crude-oil futures fall back as oil markets return to fretting over rising U.S. supplies.
Agrimoney.com  Mar 18  Comment 
Palm oil futures rebound (in Malaysia) on ideas that Indonesia may reimpose an export tax. Weather fears play a part too, as they do in grain markets
The Hindu Business Line  Mar 17  Comment 
Crude oil futures rose 0.24 per cent to Rs 2,923 per barrel today as speculators created positions even as it fell to near six-year lows in Asian markets.On the Multi Commodity Exchange, cr...
MarketWatch  Mar 16  Comment 
Oil marks its lowest settlement in 6 years as investors await a host of events, including an FOMC meeting.




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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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