QUOTE AND NEWS
newratings.com  4 hrs ago  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were flat Tuesday morning ahead of inventories data that could reveal another build in U.S. stockpiles. The American Petroleum Institute is out with figures this afternoon, while the Energy Information...
Benzinga  May 23  Comment 
July Crude Oil futures are trading lower by $0.32 at $48.09 per barrel in Monday's session. In pre-market trading, the contract found resistance just above Friday's close ($48.41), reaching $48.50 before turning lower. The ensuing decline...
newratings.com  May 23  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were lower Monday on the first day of the July contract as front-runner. A global supply glut shows few signs of abating despite recent reports predicting a re-balancing of markets this summer. U.S....
newratings.com  May 23  Comment 
MarketWatch  May 20  Comment 
Oil futures on Friday scored a more than 3% gain for the week with production outages in Africa and Canada expected to help ease the glut of crude supplies. Prices for the session, however, settled lower following news that exports from an eastern...
newratings.com  May 20  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were little changed Friday morning, stuck near recent 7-month highs. WTI light sweet crude for July was down 5 cents at $48.08 a barrel. Supply disruptions from Canada, Libya and Nigeria have driven oil...
MarketWatch  May 20  Comment 
Oil prices post gains for the week as traders focus on supply disruptions, but prices settled lower for Friday’s session.
MarketWatch  May 19  Comment 
Oil futures cut most of their earlier losses Thursday to finish a few cents lower, rebounding from a nearly one-week low. The U.S. Federal Reserve minutes released Wednesday showed that an interest-rate hike was possible in June, providing support...
MarketWatch  May 18  Comment 
Oil futures reversed course late Wednesday to settle narrowly lower as minutes from the U.S. Federal Reserve showed that an interest-rate hike was possible in June. The news supported the U.S. dollar and pressured dollar-denominated prices for...
The Hindu Business Line  May 18  Comment 
Oil futures were trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still ...
MarketWatch  May 18  Comment 
Oil futures reverse course late in the session to settle with a narrow loss as the U.S. dollar gains in the wake of minutes from the U.S. Federal Reserve’s April meeting.




RELATED WIKI ARTICLES
 

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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