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

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 1.87K in June 2020 and open interest is up to 2.07 million contracts.

Deep Options Liquidity

WTI Crude Oil options (LO) traded 82% electronically in June 2020.

Futures Trends

Launched on November 5, 2018, physically-delivered WTI Houston (HCL) futures trade as a Globex exchange listed spread to WTI futures (CL) and Brent futures (BZ) with no leg risk.

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 Option NYMEX 81,221 1,274,548
LO1 LO1 Crude Oil Weekly Options - Week 1 NYMEX 200 521
LO2 LO2 Crude Oil Weekly Options - Week 2 NYMEX 1 48
LO3 LO3 Crude Oil Weekly Options - Week 3 NYMEX 0 0
LO4 LO4 Crude Oil Weekly Options - Week 4 NYMEX 1,207 3,126
LO5 LO5 Crude Oil Weekly Options - Week 5 NYMEX 0 0
WJO WJO LLS (Argus) vs. WTI Crude Oil Average Price Option NYMEX 0 0
B7A 7A Light Sweet Crude Oil (WTI) Financial 1 Month Spread Option NYMEX 1,550 225,125
LCE LC Light Sweet Crude Oil European Financial Option NYMEX 296 18,840
AAO AO WTI Average Price Option NYMEX 3,753 299,101
WAY WA WTI Crude Oil 1 Month Calendar Spread Option NYMEX 8,000 433,900
ABV BV WTI-Brent Crude Oil Spread Option NYMEX 150 133,445
Trade Date: 23 Nov 2020 | 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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