Crude oil futures
The New York Mercantile Exchange's light, sweet crude oil futures contract is the world's most actively traded futures contract on a physical commodity. Because of its excellent liquidity and price transparency, the contract is used as a principal international pricing benchmark. The NYMEX also offers trading in heating oil futures and gasoline futures.
Crude oil futures and options provide individual investors with an easy and convenient way to participate in the world's most important commodity market. In addition, a broad cross-section of companies in the energy industry - from those involved in exploration and production to refiners - can use crude oil futures and options contracts to hedge their price risk. Light, sweet crude is preferred by refiners because of its low sulfur content and relatively high yields of gasoline, diesel fuel, heating oil, and jet fuel. Even companies that are substantial consumers of energy products can use crude oil futures to protect against adverse price fluctuations.
You can trade more than just NYMEX crude oil futures online with Schwab Futures. We also offer E-mini crude oil futures, which are just 50% of the size of a standard futures contract. E-mini crude futures trade exclusively on the Chicago Mercantile Exchange's Globex platform nearly 24 hours per day.
Crude oil futures, New York Mercantile Exchange, trading symbol CL, Minimum Tick Size: $0.01 per barrel, worth $10.00 per contract.
Electronic trading is conducted from 6:00 p.m. U.S. until 5:00 p.m. U.S. ET via the CME Globex® trading platform, Sunday through Friday.
Primary crude oil futures contracts trade every calendar month, from January through December.