Help on Crude Oil (CL)

Crude Oil Futures are traded on the New York Mercantile Exchange. The price of Crude is quoted in dollars per barrel. The standard contract size is 1,000 barrels. The minimum trading increment is 1 cent.

Crude Oil prices are read as follows:

A price of 14.20 would be read as $14.20 per barrel.

A move from 14.20 to 15.20 would be a difference of $1,000.00 excluding commissions and fees. The minimum change is $0.01 dollar or $10.00

Formula: $15.20 - $14.20 = $1.00 *1,000 = $1,000.00

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