What Are Crude Oil Futures?
Crude Oil Futures (CL) are among the most actively traded commodity futures contracts in the world. These contracts provide traders with exposure to crude oil price movements, a key driver of the global economy. CL contracts are widely used by traders and hedgers to manage risk or speculate on changes in oil prices.
Contract Size
- Contract Size: 1,000 barrels of crude oil.
Trading Hours
The Crude Oil Futures contract trades nearly 24 hours a day, five days a week, offering consistent access to the global energy markets.
- Trading Hours: Sunday to Friday, 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT).
- Time Zone: Central Time (CT).
Tick Value and Increment
- Tick Size: $0.01 per barrel.
- Tick Value: $10.00 per tick.
- Minimum Price Fluctuation: $0.01 per barrel.
This makes Crude Oil Futures an ideal choice for traders seeking liquidity, leverage, and exposure to the energy markets.
Trading Symbol
- Platform Symbol: CL
Margins
To trade Crude Oil Futures, you’ll need to meet specific margin requirements. Check out Ironbeam’s Margins Page for the latest margin rates and details.
Why Trade Crude Oil Futures?
- Liquidity: High trading volume ensures tight spreads and efficient trade execution.
- Accessibility: Leverage allows traders to control large positions with less capital.
- Global Influence: Crude oil prices significantly impact global markets, making CL an essential tool for macro trading.
- Hedging Opportunities: Widely used by companies in the energy sector to hedge price risk.
- Diversification: Add exposure to the energy market to complement equity or bond investments.
Start Trading CL with Ironbeam
Ironbeam provides a robust trading platform and API to help you access Crude Oil Futures with ease. Trade confidently with free real-time Level 2 market data and personal broker support.
DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options products. Losses in excess of your initial investment may occur. Past performance is not necessarily indicative of future results. Please contact your account representative with concerns or questions.