Crude Oil

SYMBOL:

• CL trades in units of 1,000 barrels (42,000 gallons)
  The minimum price fluctuation is $0.01 (1¢) per barrel ($10.00 per contract).
• QM (e-miNY) trades in units of 500 barrels (21,000 gallons)
  The minimum price fluctuation is $0.025 (2.5¢) per barrel ($12.50 per contract

Maximum Daily Price Fluctuation is $10.00  per barrel for open-outcry, and $20.00 per barrel for electronic trading.

Contract Expiration:  Request Free Demo to gain access to our web-based trading platform.  From within the web-based platform you will have access to view complete contract specifications, including First Notice and Last Trading day.

Margin requirements are subject to change, and are required for open futures positions.

Both Crude Oil futures contracts are available for trade on the CME Globex electronic trading platform and clears through the New York Mercantile Exchange.  Open outcry trading is conducted from 7:00AM PT until 11:30AM PT.  Electronic trading is conducted from 3:00PM PT through 2:15PM PT the next day, with only a 45-minute break in trading each day.

Trading example:  If you purchase 1 contract of CL at $100 and the next day it moves to $102, you have a profit of $2,000.  Inversely, if the price dropped to $98 the next day, you would have a loss of $2,000. For less risk/volatility you can trade the e-miNY contract which is ½ the size.