Crude Oil (CL) Futures Contract Specifications

Energy

Crude Oil Futures (CL) are one of the most actively traded commodity futures contracts. They provide exposure to light, sweet crude oil, which is the benchmark for oil pricing worldwide.

Contract Specifications

Detailed specifications for trading this futures contract

Contract Size

1,000 U.S. barrels (42,000 gallons)

Tick Size

0.01 per barrel ($0.01)

Tick Value

$10.00 per tick

Point Value

$1,000.00 per point ($1 per barrel)

Trading Hours

Sunday to Friday, 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT)

Platform Symbol

Margins

Check with your broker for the latest margin rates and details

Why Trade Crude Oil (CL) Futures?

Key benefits and characteristics of this futures contract

High liquidity and volatility

Global economic indicator

Strong trending characteristics

Extended trading hours

Micro contracts (MCL) available for smaller accounts

Effective portfolio diversification

Position Sizing for Crude Oil (CL) Futures

Example calculation for proper position sizing based on risk tolerance

For Crude Oil (CL):

Tick Size: 0.01 per barrel ($0.01)

Tick Value: $10.00 per tick

Point Value: $1,000.00 per point ($1 per barrel)

If you want to risk $500 with a 0.5-point stop loss:

Risk per Contract = Stop Loss in Points × Point Value = 0.5 × 1,000.00 ($1 per barrel) = $ 500

Maximum Contracts = Risk Amount ÷ Risk per Contract = $ 500 ÷ $ 500 = 1 contract