QUOTE AND NEWS
MarketWatch  May 8  Comment 
Oil futures climbed on Friday, erasing their losses for the week, as traders mulled the outlook for crude supplies and demand following another fall in U.S. oil-rig counts and an upbeat monthly jobs report. June crude settled at $59.39 a barrel...
The Hindu Business Line  May 8  Comment 
Edible oils prices ruled steady, tracking slack physical demand amid bearish futures. Malaysian palm oil futures extended loss for the second day on back of weak soya oil. On the Bombay...
The Hindu Business Line  May 8  Comment 
Crude oil futures prices fell 0.9 per cent to Rs 3,845 per barrel per barrel as speculators trimmed positions amid a weak trend in the Asian trade.Crude oil for delivery in June shed Rs 35...
The Hindu Business Line  May 7  Comment 
Crude oil futures prices today eased 0.38 per cent to Rs 3,960 per barrel largely in tandem with a weak trend in Asian trade.Trading sentiment turned weak at the futures trade after oil pri...
MarketWatch  May 6  Comment 
Oil futures climbed on Wednesday to settle at their highest level of the year after a U.S. government report revealed the first weekly crude-supply decline since January. Prices, however, finished below the session's best levels, with analysts...
Agrimoney.com  May 6  Comment 
Palm oil futures extend gains to 8% in two sessions - in Kuala Lumpur - as Indonesia approves a fresh export tax, just as China is in buying mode
Clusterstock  May 6  Comment 
By Dmitry Zhdannikov, Ron Bousso and Libby George LONDON (Reuters) - While oil futures prices rebound with vigor as analysts cite strong demand, the physical crude market tells a much more cautionary tale. Tens of millions of barrels are...
The Hindu Business Line  May 6  Comment 
Crude oil futures surged by Rs 66 to Rs 3,923 per barrel today as speculators engaged in creating positions amid a firm trend overseas.On the Multi Commodity Exchange, crude oil for delivery...
MarketWatch  May 6  Comment 
Oil futures pare some earlier gains, but finish at a new high for the year after U.S. government data show the first weekly crude-inventory decline in 17 weeks.
Benzinga  May 5  Comment 
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. Crude Oil futures were trading sharply higher by $2.00 at $60.93 in Tuesday's session. Over the last three sessions it has challenged the $60 the level,...




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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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