Light Sweet Crude Oil (WTI) Futures and Options

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NYMEX WTI (CL), the world’s most liquid crude oil benchmark, provides access to global crude oil pricing with the most diverse set of futures and options contracts. With WTI now firmly reconnected to global energy markets, open interest continues to grow as customers hedge their oil market risk.

Product Last Change Chart Globex Vol
57.39 +0.31 Show Price Chart 338,802

WTI Specification Change

WTI Specification Highlights:

In response to changes in the physical industry, and to ensure the continued high quality and integrity of the domestic light sweet crude oil that is being delivered against our NYMEX WTI futures contracts, we will add five additional testing parameters to our WTI futures contract specifications beginning with the January 2019 contract month.

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Key Benefits

Most Liquid Benchmark

NYMEX WTI Crude Oil futures (CL) has firmly established itself as the global crude benchmark with average daily volume of over 1.4 million in November 2017 and open interest of over 2.5 million contracts.

Deep Options Liquidity

WTI Crude Oil options (LO) boast average daily volume of over 190,000 in November 2017 with 83% traded electronically.

Precise Hedging

WTI Weekly options (LO1-LO5) give you the precision to manage short-term volatility and event risk at a lower premium. Average daily volume is up over 400% to over 3,000 in November 2017 from 2016.

An Option to Fit Any Need

Choose the option that best fits your strategy/risk profile with an extensive slate of options on WTI futures,  including American-style, European-style, monthly, weekly, daily, calendar spread, inter-commodity spread, average price, and futures strip options.

Globex ClearPort Product Name Exchange Volume Open Interest
LO LO Crude Oil Options NYMEX 179,279 2,245,671
LO1 LO1 Crude Oil Weekly Options Wk 1 NYMEX 15 17
LO2 LO2 Crude Oil Weekly Options Wk 2 NYMEX 0 0
LO3 LO3 Crude Oil Weekly Options Wk 3 NYMEX 1,128 3,119
LO4 LO4 Crude Oil Weekly Options Wk 4 NYMEX 1,182 3,727
LO5 LO5 Crude Oil Weekly Options Wk 5 NYMEX 45 471
B7A 7A Light Sweet Crude Oil (WTI) Financial 1 Month Spread Options NYMEX 3,750 283,275
LCE LC Light Sweet Crude Oil European Financial Option NYMEX 2,380 45,561
WJO WJO LLS (Argus) vs. WTI Crude Oil Average Price Option NYMEX 0 2,875
WJO WJO LLS (Argus) vs. WTI Crude Oil Average Price Option NYMEX 0 2,875
AAO AO WTI Average Price Options NYMEX 5,190 435,397
WAY WA WTI Crude Oil 1 Month Calendar Spread Options NYMEX 3,050 442,392
ABV BV WTI-Brent Crude Oil Spread Options NYMEX 4,500 222,620
Trade Date: 14 Dec 2017 | FINAL

Get Started with Energy Futures

As you look to add liquid and actively-traded contracts to your portfolio, NYMEX WTI Light Sweet Crude Oil futures lead the charge for benchmark, efficient risk management opportunities in today's global oil markets. Understanding the nuances of WTI Crude Oil futures can help you to more accurately manage your risk and benefits from these liquid markets. 

 Introduction to Crude Oil

 Discover WTI: A Global Benchmark

 Understanding Crude Oil in the United States 

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