LoggingTradesCL contract specs
| Contract | Crude Oil (CL) |
|---|---|
| Exchange | NYMEX (CME Group) |
| Contract size | 1,000 barrels of light sweet crude |
| Tick size | 0.01 |
| Tick value | $10 |
| Point value | $1,000 |
| Typical session | Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. |
Specs as listed by CME Group; confirm with your broker. Margin requirements vary by broker and prop firm, so they are not listed here.
CL tick value in dollars
CL is WTI crude oil. A single cent is $10 per contract, so a $1.00 swing is $1,000 — oil can move that far in minutes around inventory reports and news.
Worked example. You buy 1 CL at 70 and sell at 71. The move is 1 price units, which is 100 ticks. At $10 per tick that is $1,000 per contract; trading 2 contracts doubles it to $2,000. A stop the same distance away would cost the same amount, which is why you should convert every stop into dollars before you enter.
Micro vs mini
CL has a micro counterpart, MCL (Micro WTI Crude Oil), at one-tenth the size: a tick is $1 instead of $10 and a point is $100 instead of $1,000. Ten micros equal one CL in dollar exposure, so you can build up to a mini position one contract at a time.
To turn a stop distance into a contract count, use the position size calculator. Inside a prop-firm evaluation, check the result against the drawdown with the prop firm challenge calculator, and read the micro vs mini futures guide.
FAQ
What is the CL tick value?
One CL tick is 0.01 and is worth $10 per contract. One full point is $1,000 per contract.
How many ticks are in a point for CL?
100 ticks per point, because the minimum price increment is 0.01.
How much do I make or lose on a 100-tick CL move?
100 ticks × $10 = $1,000 per contract, before commissions and fees. With 3 contracts that is $3,000.
When does CL trade?
CL trades on CME Globex Sunday–Friday, 6:00 p.m.–5:00 p.m. ET (5:00 p.m.–4:00 p.m. CT) on CME Globex, with a daily break from 5:00 p.m. to 6:00 p.m. ET. Holiday hours differ. Confirm current hours with your broker and CME Group.