QUOTE AND NEWS
MarketWatch  Sep 3  Comment 
Oil futures settle higher, with U.S. prices logging their fifth gain in six sessions.
MarketWatch  Sep 2  Comment 
Oil futures staged an intraday U-turn on Wednesday to settle higher after earlier dip below $44 a barrel. Analysts attributed the turn higher to the market digging deeper into the details of the latest U.S. supply data as well as to technical...
MarketWatch  Sep 2  Comment 
Oil futures reclaim the $45-a-barrel level
Benzinga  Sep 2  Comment 
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. Crude Oil futures were trading lower by $1.41 at $44 in Wednesday's volatile session. After a lower open ($44.26 vs. Tuesday's close of $45.41), it...
MarketWatch  Sep 2  Comment 
Oil futures back below $45 a barrel as U.S. supply glut grows
MarketWatch  Sep 2  Comment 
Oil futures reverse course in afternoon dealings, with U.S. prices reclaiming the $45 level as traders mull the details of the latest weekly update on U.S. petroleum supplies.
The Hindu Business Line  Sep 2  Comment 
Crude oil futures plunged Rs 97 to Rs 2,961 per barrel today as speculators engaged in reducing bets amid a weak trend in Asian trade.On the Multi Commodity Exchange, crude oil for delivery...
Mondo Visione  Sep 1  Comment 
DME, the premier international energy futures and commodities exchange in the Middle East, today announced a new open interest record for its flagship Oman Crude Oil Futures contract of 27,109 lots, which is equivalent to 27.1 million barrels of...
Reuters  Sep 1  Comment 
U.S. crude prices jumped more than 27 percent in three trading days between Thursday and Monday, which should convince even the most die-hard believers the oil futures market is neither efficient nor rational.
MarketWatch  Sep 1  Comment 
Oil futures fall, with weak Chinese manufacturing data dulling the outlook for energy demand and prices settling lower after tallying a three-session climb of more than 27%.




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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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