QUOTE AND NEWS
MarketWatch  3 hrs ago  Comment 
Oil futures ended higher Thursday, maintaining gains after data showed a smaller-than-expected rise in U.S. crude inventories. West Texas Intermediate crude for April delivery rose 86 cents, or 1.6%, to close at $54.45 a barrel. Oil spiked then...
The Hindu Business Line  Feb 23  Comment 
Crude oil futures plunged Rs 70 to Rs 3,598 per barrel today as speculators reduced their positions amid a weak trend overseas. Profit-booking at existing levels too weighed on crude prices. At t...
Reuters  Feb 23  Comment 
Oil futures climbed nearly 1 percent on Thursday after data showed a surprise decline in U.S. crude stocks as imports fell, supporting the view that a global glut is ending.
newratings.com  Feb 22  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures fell from yearly highs Wednesday ahead of U.S. inventories data. Traders expect U.S. stockpiles continued to soar last week, adding to the gargantuan surplus recorded earlier in February. The American...
newratings.com  Feb 22  Comment 
The Hindu Business Line  Feb 22  Comment 
Edible oils rule steady at the end on Wednesday erasing initial lose in line with bounced back in Malaysian palm oil futures. Liberty’s reduced its rates for Palmolein Ex STC / Shapur to ₹607/ ₹608 ...
The Hindu Business Line  Feb 20  Comment 
Malaysian palm oil futures on BMD fell lower for the third consecutive session, falling to their lowest since mid-November, as slowing demand and expectations of higher supplies weighed on the market...
The Hindu Business Line  Feb 19  Comment 
The most active March’17 refined soya oil futures contract on the NCDEX fell to a four-month low of ₹663.3 per 10 kg on Friday. The contract tumbled over 4 per cent on the back of weak global cues to...
MarketWatch  Feb 17  Comment 
Oil futures added a few pennies on Friday, but ended the week with a loss for the first time in three weeks. Traders weighed pressure from rising U.S. crude production and supplies against support from sizable production cuts among members of the...
MarketWatch  Feb 17  Comment 
Oil futures barely budge Friday, but fall for the week—caught between larger-than-expected growth in U.S. crude stocks and reports that the Organization of the Petroleum Exporting Countries could consider extending its production cuts beyond the...
newratings.com  Feb 16  Comment 
WASHINGTON (dpa-AFX) - Crude oil futures were slightly higher Thursday morning, but remained in a narrow trading range amid surging U.S. production. U.S. crude-oil inventories have climbed to their highest weekly level on record, the Energy...




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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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