Mini crude oil contract

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FREE Webinar: What Mini Crude-Oil Contracts Are and Why They Could Be Good Bets

Crude oil is petroleum that is acquired directly from the ground. Crude oil was formed millions of years ago from the remains of tiny aquatic plants and animals that lived in ancient seas. Ancient societies such as the Persians, 10th century Sumatrans, and pre-Columbian Indians believed that crude oil had medicinal benefits. Around 4, BC in Mesopotamia, bitumen, a tarry crude, was used as caulking for ships, as a setting for jewels and mosaics, and as an adhesive to secure weapon handles.

The walls of Babylon and the famed pyramids were held together with bitumen, and Egyptians used it for embalming. During the 19th century in America, an oil find was often met with dismay. Pioneers who dug wells to find water or brine, were disappointed when they struck oil. It wasn't until , with the invention of the kerosene lamp, that the first large-scale demand for petroleum emerged. Crude oil is a relatively abundant commodity.

The world has produced approximately billion barrels of oil, but another trillion barrels of proved reserves have yet to be extracted. Crude oil was the world's first trillion-dollar industry and accounts for the single largest product in world trade.

The CME trades two main types of crude oil: light sweet crude oil and Brent crude oil. The light sweet futures contract calls for the delivery of 1, barrels of crude oil in Cushing, Oklahoma. Light sweet crude is preferred by refiners because of its low sulfur content and relatively high yield of high-value products such as gasoline, diesel fuel, heating oil, and jet fuel.

The Brent blend crude is based on a light, sweet North Sea crude oil. Brent blend crude production is approximately , barrels per day and is shipped from Sullom Voe in the Shetland Islands. The dollar index sank to a 4-year low in February, which lifted the prices of most commodities priced in dollars. Geopolitical concerns in the Middle East kept crude prices firm and the U. Also, the U. Weaker economic activity in China, the world's second-largest crude oil consumer, also weighed on crude oil prices after the China's Dec manufacturing PMI fell to a 3-year low of Crude oil finished the year down The world's largest oil producers in were Russia with Demand - U.

Most of that demand went for U. Trade - The U. Information on commodities is courtesy of the CRB Yearbook , the single most comprehensive source of commodity and futures market information available. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope for commodities information is second to none.

The CRB Yearbook is part of the cmdty product line. Please visit cmdty for all of your commodity data needs. See More. Your browser of choice has not been tested for use with Barchart. If you have issues, please download one of the browsers listed here. Log In Menu. Stocks Futures Watchlist More. No Matching Results. Advanced search. Options Currencies News. Tools Home. Stocks Stocks. Options Options.

Futures Futures. Currencies Currencies. Trading Signals New Recommendations. News News. Dashboard Dashboard. Tools Tools Tools. Featured Portfolios Van Meerten Portfolio. Market: Market:. Contract Specifications for [[ item. More Crude Oil Mini Quotes.

Want to use this as your default charts setting? Learn about our Custom Templates. Switch the Market flag above for targeted data. Open the menu and switch the Market flag for targeted data. Need More Chart Options? Right-click on the chart to open the Interactive Chart menu. Free Barchart Webinar. Reserve Your Spot. Not interested in this webinar. Trading terminates at the close of business on the forth business day prior to the 25th calendar day of the month preceding the delivery month.

U.S. dollars and cents per barrel. Sunday - Friday p.m. - p.m. ( p.m. - p.m. CT) with a minute break each day beginning at p.m. ( p.m. CT).

Advanced Search. The new contract is authorized for trading as of the August contract month, from a. The settlement prices of the cash-settled mini Crude Oil futures contract will be calculated from the settlement prices that have their methodology available here. The launch is part of an agreement with CME Group to promote the cross-listing of futures contracts designed to meet the needs of local market participants. The new contract will allow local lifters, refiners, fuel distributors, importers, exporters, suppliers of oil-based products and other participants to execute hedging strategies that mitigate against price risk in the energy markets.

These slight variances in settlements are the result of rounding due to differences in the minimum tick sizes between the E-mini contracts and the full-sized contracts.

Crude oil is petroleum that is acquired directly from the ground. Crude oil was formed millions of years ago from the remains of tiny aquatic plants and animals that lived in ancient seas. Ancient societies such as the Persians, 10th century Sumatrans, and pre-Columbian Indians believed that crude oil had medicinal benefits.

E-mini Crude Oil Futures,Jun-20 (QM=F)

Never miss a great news story! Get instant notifications from Economic Times Allow Not now. This is the minimum amount which is required to buy "x" number of lots of a particular commodity to trade in futures market. Mentha Oil. Natural Gas Crude Oil.

The price of crude oil is not only determined by the fundamental outlook for the physical commodity and global supply and demand; it's also determined by the actions of traders. The price of crude is constantly fluctuating, and day traders use that movement to make money. Day trading crude oil is about speculating on short-term price movements, rather than attempting to assess the "real" value of crude. By using a combination of long and short positions, day traders can turn a profit whether the price of crude is rising or falling. Traders do all this without ever physically handling crude oil. Instead, all of the trading transactions take place electronically, and only profits or losses are reflected in the trading account. The two most common securities used to achieve this goal are futures contracts and exchange-traded funds ETFs. Here's how day traders do it. Day traders, by definition, close out all contracts each day. They make a profit or loss on each trade based on the difference between the price at which they bought or sold the contract and the price at which they later sold or bought it to close out the trade.