QUOTE AND NEWS
MarketWatch  Dec 18  Comment 
Crude-oil futures settled 4.2% lower on Thursday, snapping a two-session winning streak. Crude for January delivery finished $2.36 lower at $54.11 a barrel on the New York Mercantile Exchange. That was the lowest settlement for a front-month oil...
Bloomberg  Dec 17  Comment 
Crude Oil Futures Rebound With Stocks as Selloff Pauses Crude futures rebounded with stocks after a market selloff prompted by concerns over rising supply and weak demand...
MarketWatch  Dec 16  Comment 
Oil futures settled two cents higher on Tuesday, after swinging wildly from mid-session on and trading as low as $53.60 a barrel and as high as $57.15 a barrel. Oil for January delivery finished at $55.93 a barrel on the New York Mercantile...
Reuters  Dec 16  Comment 
U.S. crude oil futures bounced off 5-1/2-year lows on Tuesday, and hovered around $55 a barrel in volatile trading near that price, with U.S. options set to expire later in the day.
The Hindu Business Line  Dec 16  Comment 
Continuing its slide, crude oil futures declined by another 1.78 per cent to Rs 3,534 per barrel today in line with a weak trend in Asian trade.At the Multi Commodity Exchange, crude oil fo...
MarketWatch  Dec 15  Comment 
Nymex January WTI oil futures fell $1.90, or 3.3%, to close at $55.91 a barrel on Monday, the lowest finish for a nearby futures contract since May 2009. Oil futures have been in a steep decline since midyear attributed to a global supply glut...
Financial Times  Dec 15  Comment 
Country aims to attract foreign investors and gain more pricing power
The Hindu Business Line  Dec 15  Comment 
Weak domestic currency and firm soya oil futures pushed up the volume of imported edible oils on Monday even as prices dropped. On the Bombay Commodity Exchange, groundnut, rapeseed and cot...
The Hindu Business Line  Dec 15  Comment 
Crude oil futures fell 0.32 per cent to Rs 3,669 per barrel today as traders trimmed their positions amid a weak trend in Asian trade where it sank to a fresh five-year low.At the Multi Com...




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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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