CRUDE PHY (NCO)
The contracts are traded on CME.
Contract specifications
- Underlying value : 1000 barrels Lite Sweet Crude Oil
- Contract size : 1000 barrels
- Value : price for one barrel x 1000
- Minimum Price movement : 0,01 (= $ 10 per contract)
- Contract listings : monthly
- Physical delivery
- Expiration date : trading in the current delivery month shall cease on the business day immediately preceding to the last day of trading in the current delivery month of the NYMEX Light Sweet Crude Oil futures contract.
Trading example
- The price of one barrel of Lite Sweet Crude Oil at 75,93 $
- The value of one future contract Crude Oil is 75,93 x 1000 $ = 75.930 $.
- Buy at 75,93 $ / barrel and sell at 76,43 $ / barrel.The price of one barrel crude oil increases from 75,93 $ to 76,43 $ equaling 0,5 $
- The value of 0,5 points = 50 points x 10 $ = 500 $
When the price for one barrel crude oil goes up from 75,93 to 76,43 a profit of 500 $ on the Crude Oil future is realized.
