QUOTE AND NEWS
Reuters  Feb 27  Comment 
Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since June, helped by strong investor inflows, an improving demand outlook and supply outages.
Reuters  Feb 27  Comment 
Crude oil futures rebounded on Friday and Brent headed for its first monthly gain since June, helped by strong investor inflows, an improving demand outlook and supply outages.
MarketWatch  Feb 26  Comment 
Oil futures dropped by more than 5% Thursday to settle at their lowest level in nearly a month, with a steep climb in the U.S. dollar adding insult to injury to a market that's already been suffering from record-high crude supplies. April crude ...
Yahoo  Feb 26  Comment 
Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand. While Brent losses were tempered ...
The Australian  Feb 25  Comment 
OIL futures have turned sharply higher as traders overlook record-high US inventories to focus on signs of improving demand.
The Hindu Business Line  Feb 25  Comment 
Edible oils witnessed thin volatility with lower volume on Wednesday, tracking weak Malaysian palm oil futures amidst slack demand. Prices were mixed on the Bombay Commodity Exchange. Groun...
MarketWatch  Feb 24  Comment 
Nymex April crude-oil futures ended slightly lower Tuesday, losing 17 cents, or 0.3%, to settle at $49.28 a barrel. Oil was under pressure ahead of the API Weekly Statistical Bulletin due later in the day and the EIA Weekly Petroleum Status...
The Hindu Business Line  Feb 24  Comment 
Crude oil futures rose by 0.42 per cent to Rs 3,109 per barrel today as speculators created fresh positions amid a firm trend in Asia.At the Multi Commodity Exchange, crude oil for delivery...
MarketWatch  Feb 23  Comment 
Looking at the price action in the forward months for Brent futures contracts, traders might think a recovery is on tap for the European benchmark’s prices.
The Hindu Business Line  Feb 20  Comment 
Crude oil futures rose 1.5 per cent to Rs 3,295 per barrel today as speculators created fresh positions amid a firm trend in Asian markets.On the Multi Commodity Exchange, crude oil for del...




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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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