Tap into the precision of a smaller-sized WTI Crude Oil contract

Micro WTI Crude Oil futures are designed to give active traders a smaller, more precise instrument to manage crude oil price exposure. At 1/10 the size of the global benchmark WTI futures contract, Micro WTI Crude Oil (MCL) futures offer the same robust transparency and price discovery of larger WTI futures with smaller margin requirements.

WTI crude oil - WTI crude oil represents West Texas Intermediate (WTI), or light sweet crude oil that is stored and distributed in Cushing, Oklahoma and has long been a worldwide benchmark for oil prices. Learn more about WTI and its role in the global oil marketplace.

Trade a smaller-sized contract

Get the same features as the largest WTI Crude Oil futures contract, at 1/10 of the size of the benchmark contract and cash-settled to the larger contract’s price. This expands access to oil opportunities to traders of all sizes.

Manage WTI crude oil exposure with precision

Add more granularity to your energy trading and risk-management strategies by using Micro WTI Crude Oil futures to fine-tune your crude oil market exposure up or down in 100-barrel increments (the size of one MCL contract).

Add access and capital efficiency

Tap into the same features as the world’s most liquid oil contract, WTI futures, with a smaller contract that has smaller margin requirements. Get the same access to nearly 24-hour markets, transparency used by the energy industry worldwide to determine prices, and more.

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Getting Started with Micro WTI Crude Oil Futures

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Watch and learn about Micro WTI Crude Oil futures

Our educational video will help you get to know Micro WTI futures with an overview of key contract features, a potential strategy for hedging an oil options position using Micro WTI futures, and more.

Contract specifications

NEW Micro WTI Crude Oil futures E-mini WTI Crude Oil futures WTI Crude Oil futures
CONTRACT SIZE 100 barrels 500 barrels 1,000 barrels
RATIO TO STANDARD CONTRACT 1/10 1/2 1(standard)
MINIMUM TICK/ PRICE FLUCTUATION $0.01 per barrel $0.025 per barrel $0.01 per barrel
DOLLAR VALUE OF ONE TICK $1 per contract $12.50 per contract $10 per contract
PRODUCT CODE MCL QM CL
SETTLEMENT Financial Financial Physical
TRADING HOURS CME Globex: Sun-Fri: 5 p.m. to 4 p.m.
Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT

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