At present, the most representative crude oil futures in NYMEX market are light and low sulfur crude oil futures contracts.
Main trading rules of low sulfur crude oil futures contracts:
Trading unit: futures CL: 1000 barrels (42,000 gallons); Mini futures QM: 500 barrels
Option: the New York Mercantile Exchange futures contract.
Quotation method: (USD+US cents)/barrel;
Trading time of futures and options: The public bidding time in the field is from 9: 00 am to 2:30 pm. Electronic transactions are conducted through the GLOBEX platform of CME, and the time is 15 from 6 pm to 5 pm the next day, with a 45-minute break every day. From Sunday to next Friday, the above time is new york time. Mini contracts are also traded through CME's GLOBEX platform and settled in NYMEX.
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