Light Sweet Crude Oil is a generic term for a range of oil grades with a maximum sulfur content of 0.42%, which include West Texas Intermediate, New Mexican Sweet, and Oklahoma Sweet. These light and so-called “sweet” oil grades offer good yields of high-value end and intermediate products in refineries. They can be cheaply processed into products such as gasoline, diesel and kerosene. A number of other international oil grades have traded mostly at premiums or discounts to the WTI price in the past. The NYMEX Light Sweet Crude Oil Future is the most traded commodity contract in the world. It is used by many market participants in risk management and as a hedge because of its high liquidity. The delivery point for Light Sweet Crude Oil is Cushing, Oklahoma, a hub of the North American pipeline system.
Trade data on Light Sweet Crude Oil
Product symbol: CL
Trade: CME GOUP (CME Globex, CME ClearPort, Open Outcry / New York)
Contract size: 1000 Barrels
Trade price: USD and cents per barrel
Minimum trade movement: 00.01 USD per barrel
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