QUOTE AND NEWS
The Hindu Business Line  May 22  Comment 
Malaysian palm oil futures rose to their highest in a week on Monday as strong export demand put the contract on track for a second straight session of gains. CPO active month August futures moved on ...
Channel News Asia  May 19  Comment 
TOKYO: Oil futures rose on Friday to the highest in nearly a month on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains. Brent crude ...
The Hindu Business Line  May 19  Comment 
Crude oil rose 0.75 per cent to Rs 3,227 per barrel at the futures market today as speculators created fresh bets, taking positive cues from global markets. At the Multi Commodity Exchange, crude o...
WA Business News  May 15  Comment 
The Australian dollar has been unable to sustain gains against the US dollar, despite a jump in crude oil futures and metals getting a boost.
The Hindu Business Line  May 15  Comment 
Malaysian palm oil futures ended sharply higher on Monday, and climbed towards multi-month highs, on expectations of solid demand ahead of Ramadan festivities and further buoyed by firmer overnight so...
Mondo Visione  May 15  Comment 
Having been approved by China Securities Regulatory Commission (CSRC), INE, the subsidiary of Shanghai Futures Exchange has officially published the Articles of Association of the Shanghai International Energy Exchange and the General Exchange...
The Hindu Business Line  May 11  Comment 
Edible oils market ruled firm tracking extended gain in Malaysian palm oil futures amid physical demand support. Liberty’s rates for Palmolein Ex STC / Shapur were ₹560 / ₹561 for May. Super palmolei...
Reuters  May 10  Comment 
Oil futures rose on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC tries to counter rising U.S. output that is threatening to derail its attempts to end a sustained global crude glut.
The Hindu Business Line  May 8  Comment 
Malaysian palm oil futures ended higher on Monday, and climbed for their third consecutive session, on expectations of solid demand ahead of Ramadan festivities. CPO active month July futures are movi...




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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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