Oil. The New York Mercantile Exchange is one of the largest commodity futures exchanges in the world. Light crude oil refers to crude oil with low density, low sulfur content and easy processing. Usually used to produce petroleum products such as gasoline and diesel, its light crude oil futures contract is one of the most active futures contracts in the world. Therefore, the trading volume of light crude oil in the New York Mercantile Exchange is very large, and it has become one of the representatives of petroleum commodities. The New York Mercantile Exchange's light crude oil futures contract is one of the important reference indicators of international oil prices. Therefore, the price fluctuation of light crude oil has an important impact on the global oil market and economy, and it also makes light crude oil one of the representatives of petroleum commodities.