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Crude Oil Futures Quotes
The crude oil futures price is different than the crude
oil options price. Commodity and futures prices like crude oil prices are usually quoted the same way prices
are quoted in the cash market (physical market). That is, in dollars, cents, and sometimes fractions of a cent. Different
commodities are quoted in different trading units. Crude oil prices are quoted per barrel. Be certain you understand the price
quotation system for the particular commodity that you consider trading. The NYMEX crude oil futures contract is a contract for future physical delivery of 1,000 barrels of crude
oil; however, the vast majority of the futures positions are offset well before delivery. The crude oil futures trade in $0.01
increments, equivalent to $10 per contract. Example of Futures Quote: 48.25 means $48.25 per barrel. Crude Oil Options
Quotes The NYMEX crude oil options contract controls 1,000 barrels of
crude oil based on the underlying futures contract. For a premium the crude oil options give buyers the right to buy
(calls) or sell (puts) a crude oil futures contract at a fixed price (strike price) for a fixed period of time (expiration
date). Example of Options Quote: 2.45 means $2.45 per barrel
$2.45 X 1,000 barrels = $2,450 The NYMEX crude oil futures contract is a contract for future physical delivery of 1,000 barrels
of crude oil; however, the vast majority of the futures positions are offset well before delivery. The crude oil futures trade
in $0.01 increments, equivalent to $10 per contract. Example of Futures
Quote: 48.25 means $48.25 per barrel. Crude Oil Options Quotes The NYMEX crude oil options
contract controls 1,000 barrels of crude oil based on the underlying futures contract. For a premium the crude oil options
give buyers the right to buy (calls) or sell (puts) a crude oil futures contract at a fixed price (strike price)
for a fixed period of time (expiration date). Example of Options
Quote: 2.45 means $2.45 per barrel
$2.45 X 1,000 barrels = $2,450
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