QUOTE AND NEWS
The Hindu Business Line  3 hrs ago  Comment 
Crude oil futures plunged by 2.49 per cent to Rs 5,124 per barrel today as speculators indulged in trimming positions after it sank to over two-year lows in Asian markets.At the Multi Commo...
newratings.com  Oct 9  Comment 
WASHINGTON (dpa-AFX) - Crude oil prices are little changed Thursday morning, languishing near yesterday's 18-month low, ahead of weekly U.S. jobless claims data. Crude oil futures for November delivery are down $0.06 or 0.06 percent at...
MarketWatch  Oct 8  Comment 
U.S. crude-oil inventories rose by 5 million barrels in the week ended Oct. 3, the Energy Information Administration said Wednesday. That contrasted with expectations of an increase of 2.1 million barrels, according to analysts polled by Platts....
newratings.com  Oct 6  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures edged higher Monday morning, but remained near two-year lows even as the dollar weakened. The dollar has risen to four-year highs in recent weeks, putting pressure on most commodity prices. Oil's...
MarketWatch  Oct 3  Comment 
Crude-oil and Brent prices fail to rebound on Friday, marking sharp losses for the week.
Reuters  Oct 2  Comment 
U.S. gasoline prices are the lowest in four years following a drop in crude oil futures, the nation's largest motorists group said.
MarketWatch  Oct 2  Comment 
New York and London oil futures benchmarks diverge, with Brent feeling the pinch of a Saudi oil price cut.
Mondo Visione  Sep 30  Comment 
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges that Daniel Shak of Las Vegas, Nevada, and SHK Management, LLC (SHK) (the “Respondents”) attempted to manipulate the price of Light...
Reuters  Sep 30  Comment 
U.S. oil futures dropped towards $94 a barrel on Tuesday, easing after gaining more than $2 in the past two sessions on strong U.S. economic 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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