CME NYMEX WTI Light Sweet Crude Oil Futures

Trade the world's most actively traded crude oil benchmark.

CME NYMEX WTI Light Sweet Crude Oil Futures (product code CL), listed on NYMEX, is the global benchmark for light, sweet crude oil pricing. Each contract represents 1,000 barrels and is quoted in U.S. dollars and cents per barrel, with physical delivery at Cushing, Oklahoma, ensuring the futures price converges with the underlying physical market.

The contract is used by producers, refiners, trading firms, and institutional investors to hedge crude oil price exposure and to express directional and calendar-spread views. Deep liquidity across a multi-year forward curve allows positions to be established and adjusted efficiently at tight bid-ask spreads.

WTI Crude Oil Futures trade nearly around the clock on CME Globex, giving market participants in Asian time zones continuous access to price discovery and risk management as global energy news develops.

Key Benefits

• Deep, Liquid Market
  • Over 1 million contracts of WTI futures and options trade daily, with approximately 4 million contracts of open interest.
     
• Global Benchmark
  • WTI is the go-to measure for the world oil price, with the U.S. producing and exporting record amounts of crude oil.
     
• ≥ 80% Margin Offsets
  • Trade with other NYMEX oil contracts for significant savings and precise exposure.
     
• Physical Settlement
  • NYMEX WTI is closely connected to the spot market, reducing costs. Financial look-alike products offer an alternative to clients looking for cash-settlement.
     
• 60/40 US Tax Treatment
  • Enjoy 60% long-term, 40% short-term treatment on capital gains.
     
• Futures Leverage
  • Control a large contract value with a small amount of capital. Used properly, futures are a powerful way to increase capital efficiency and exposure.
     

Contract Specifications

Source: CME Group

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