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Light Crude Oil Futures Trading

Crude Oil Futures Trading - Get latest Light Crude Oil futures prices, quotes, charts, news & contract specifications. Call us at 800-454-9572 for more info



Light Crude Oil Futures Trading

Current Light Crude Oil Futures Trading | Futures Prices

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  • Crude Oil Futures Trading 

    Generally speaking, crude oil is always in high demand, because it is interwoven in every aspect of our lives, makeup, gasoline, plastics, detergent, medicine, etc. Its relative nature to the support of human society is key to meeting a high supply and demand. Before making a move in checkers, and jumping over your opponents, and being crowned king, understanding the formation of crude oil truly is the course of wisdom. 

    Light crude oil is determined by its American Petroleum Institute (API) gravity. Simply, the API weighs to see how heavy or light petroleum liquid compares to water. Consequently, if petroleum liquid is above 10, it is lighter than water and will float, and conversely. Crude oil is classified in four weights: light, medium, heavy and extra heavy. LCO, weight has a high API gravity of 31.3 (less than 870 km/m3). This is significant, the higher the API number (40 to 45), the more valuable it is for refineries to trade, which leads to greater profits for the initial investment. Moreover, a useful Light crude oil creates a higher demand, which propels more futures contracts, and pushes for more trade. However, if crude oil reaches an API surpassing 45, molecularly it breaks down and is of use to anyone. As you begin to move your pieces in place for trading, there are two benchmarks for trading light crude oil: Brent Blend and West Texas Intermediate.
     
    Brent Blend oils and West Texas Intermediate (North America) are both sweet crude oils. Brent Blend (European) light crude futures represent half of the traded light crude oil from the North Sea. Briefly, Brent is an acronym for the five layers of formation in the field of oil: Broom, Rannoch, Etive, Ness and Tarbert. Brent Blend Oils can be traded on the Intercontinental Exchange (ICE) and the New York Mercantile Exchange (NYMEX). The symbol for trading on ICE is NSEA-M. This sweet Light crude oil originally traded in London, on the International Petroleum Exchange (IPE). Every futures contract equates to 1000 barrels and is quoted in U.S. Dollars.  

    Overall, trading Light crude oil is a great way to diversify your portfolio and leverage against volatile commodities such as gold and silver. Whether trading the Brent or West Texas sweet oil, an avid study of market makeup, is vital to comprehend the scope and nature of light crude oil. All light crude oil posses an expiry dates every month of the year. This constantly applies pressure to traders, to trade, quickly, but sagely, in order to preserve the longevity of their product, yet still not be left with a stockpile of product. All LCO's can be found on the CME group, CME clear point and CME Globex. With Light crude oil, the variance in price, is $.01, in short a stabilizer, in a truly unstable marketPractice paper trading before testing newly acquired skills in trading, learn the rules first, master how everything moves and jump your way to a solid trading future. 

    As one of the first online commodity brokers in the industry, Cannon Trading has helped clients all over the world achieve their trading goals. We have been in business since 1988, and have received several customer service awards, and consistently maintained good standing with the NFA and CFTC. 

    Our professional commodities brokers will work with you to understand your specific trading style and requirements, and provide you the essential advice and information you need to thrive in this highly lucrative market.

    Cannon Trading's Broker-assisted Trading solution provides traders who are new to the field with the essential advice and tools they need to accelerate their understanding of the Light crude oil futures market.

    Contact us today to learn more about commodities trading, as well as information on options prices and contracts. 

    Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Latest Light Sweet Crude Oil Futures News

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Oil trading alert: Will news from Ukraine push crude oil higher? - Futures Magazine

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Crude Oil, Copper: Expect Volatility - Investing.com

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WTI Crude: 100.5 Critical For Short Term Direction - Investing.com

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Gasoline: RBCL Resistance At 2200, 2278 - Investing.com

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Light Crude Oil Futures Trading Prices — Historical Chart

Chart of Light Crude Oil Futures Trading futures updated April 4, 2013. Click the chart to enlarge. Press ESC to close.

Light Crude Oil Futures Trading Trading Chart updated April 4, 2013

Disclaimer: This material is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

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Light Crude Oil Futures Trading Contract Specifications

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Product Symbol CL

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Contract Size 1,000 barrels

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Price Quotation U.S. Dollars and Cents per barrel

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Venue CME Globex, CME ClearPort, Open Outcry (New York)

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CME Globex Hours (EST) Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)

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CME ClearPort Hours (EST) Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)

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Open Outcry Hours (EST) Monday - Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)

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Minimum Fluctuation $0.01 per barrel

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Termination of Trading Trading in the current delivery month shall cease on the third business day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a non-business day, trading shall cease on the third business day prior to the last business day preceding the twenty-fifth calendar day. In the event that the official Exchange holiday schedule changes subsequent to the listing of a Crude Oil futures, the originally listed expiration date shall remain in effect. In the event that the originally listed expiration day is declared a holiday, expiration will move to the business day immediately prior.

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Listed Contracts Crude oil futures are listed nine years forward using the following listing schedule: consecutive months are listed for the current year and the next five years; in addition, the June and December contract months are listed beyond the sixth year. Additional months will be added on an annual basis after the December contract expires, so that an additional June and December contract would be added nine years forward, and the consecutive months in the sixth calendar year will be filled in. Additionally, trading can be executed at an average differential to the previous day's settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours.

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Settlement Type Physical

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Delivery

(A) Delivery shall be made F.O.B. at any pipeline or storage facility in Cushing, Oklahoma with pipeline access to TEPPCO, Cushing storage or Equilon Pipeline Company LLC Cushing storage. Delivery shall be made in accordance with all applicable Federal executive orders and all applicable Federal, State and local laws and regulations. For the purposes of this Rule, the term F.O.B. shall mean a delivery in which the seller: provides light "sweet" crude oil to the point of connection between seller's incoming and buyer's outgoing pipeline or storage facility which is free of all liens, encumbrances, unpaid taxes, fees and other charges; in the event of the buyer's election to take delivery by interfacility transfer ("pumpover") to either TEPPCO, Cushing or Equilon Pipeline Company LLC, Cushing, from seller's delivery facility, bears the lesser of the pumpover charge applicable for pumpover from seller's delivery facility to TEPPCO or Equilon Pipeline Company LLC; retains title to and bears the risk of loss for the product to the point of connection between the buyer's outgoing and the seller's incoming pipeline or storage facility.

(B) At buyer's option, such delivery shall be made by any of the following methods:

By interfacility transfer ("pumpover") into a designated pipeline or storage facility with access to seller's incoming pipeline or storage facility.

By in-tank transfer of title to the buyer without physical movement of product; if the facility used by the seller allows such transfer, or by in-line transfer or book-out if the seller agrees to such transfer.

(C) All deliveries made in accordance with these rules shall be final and there shall be no appeal.

(D) Any seller delivering less than 5 contracts for one customer shall deliver out of storage at the Equilon Pipeline Company LLC facilities, unless the buyer and seller mutually agree to exempt the seller from this requirement.

The seller shall provide preliminary confirmation of title transfer at the time of delivery by telex or other appropriate form of documentation.

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Delivery Period

(A) Delivery shall take place no earlier than the first calendar day of the delivery month and no later than the last calendar day of the delivery month.

(B) It is the short's obligation to ensure that its crude oil receipts, including each specific foreign crude oil stream, if applicable, are available to begin flowing ratably in Cushing, Oklahoma by the first day of the delivery month, in accord with generally accepted pipeline scheduling practices.

(C) Transfer of title-The seller shall give the buyer pipeline ticket, any other quantitative certificates and all appropriate documents upon receipt of payment.

The seller shall provide preliminary confirmation of title transfer at the time of delivery by telex or other appropriate form of documentation.

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Grade and Quality Specifications Please see rulebook chapter 200

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Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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