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Light Sweet Crude Oil (Financial) futures are an outright crude oil contract between a buyer and seller. The contract also serves as a key international pricing benchmark, and:
- Offers excellent liquidity
- Settles according to the Light Sweet Crude Oil (Physical) futures first nearby contract month
Things to know:
- Unit of trading is 1,000 barrels
- Financially settled
- Traded via open outcry and off-exchange for clearing only through CME ClearPort
About Light Sweet Crude Oil
Crude oil is the world's most actively traded commodity. Light, sweet crudes are preferred by refiners because of their low sulfur content and relatively high yields of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel.
The Exchange also lists for trading electronically a financially settled futures contract for Dubai crude oil; a futures contract on the differential between the light, sweet crude oil futures contract and Canadian Bow River crude at Hardisty, Alberta; and futures contracts on the differentials of the light, sweet crude oil futures contract and four domestic grades of crude oil: Light Louisiana Sweet, West Texas Intermediate-Midland, West Texas Sour, and Mars Blend.
