QUOTE AND NEWS
The Hindu Business Line  Jan 29  Comment 
Global benchmark Brent crude futures rose on Friday, set for a second weekly gain, moving 6.5 per cent higher so far this week, spurred higher by hopes of a deal among oil-producing countries to tack...
Reuters  Jan 29  Comment 
U.S. crude oil futures extended gains on Friday to take their weekly rise to more than 4 percent on hopes of a global deal between oil-producing countries to help tackle a growing supply glut.
MarketWatch  Jan 28  Comment 
Oil futures trim gains scored earlier in the session on hopes for a coordinated output cut by Russia and OPEC after cartel officials say not meeting is planned.
MarketWatch  Jan 28  Comment 
Oil futures jump 7% on speculation about output reductions by OPEC, Russia
MarketWatch  Jan 27  Comment 
Russia's state-owned oil pipeline company Transneft said Russia and the Organization of the Petroleum Exporting Countries will discuss possible oil output cuts, Reuters reported Wednesday, citing Russian news agency TASS. Prices for oil had...
MarketWatch  Jan 27  Comment 
The U.S. Energy Information Administration reported on Wednesday that crude inventories climbed by 8.4 million barrels for the week ended Jan. 22. The American Petroleum Institute on Tuesday reported an 11.4 million-barrel increase, according to...
Benzinga  Jan 27  Comment 
March Crude Oil futures are trading lower by $0.58 at $30.86 in Wednesday's session. In after-hours trading, the contract swooned to $30.14 before staging a rebound. The ensuing rally has not been able to reach Tuesday's close ($31.45), as the...
Benzinga  Jan 26  Comment 
March crude oil futures are trading higher by $1.29 at $31.63 in Tuesday's session. The contract has over a $3 range since bottoming in pre-market trading at $29.25 before reaching $32.41 around 1:30 p.m. This marks the third trading day in row...
OilVoice  Jan 26  Comment 
Source U.S. Energy Information Administration Intercontinental Exchange CME Group A change to the North Sea Brent crude oil futures contract will alter the way prices for Brent futures are compare
MarketWatch  Jan 25  Comment 
Prices for West Texas Intermediate oil slipped below the $30-a-barrel mark late Monday, after settling with a loss of nearly 6%. "Talk that the [Organization of the Petroleum Exporting Countries] will wait for non-OPEC assistance in raising prices...




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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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