Gain direct exposure to the crude oil market using CME Group West Texas Intermediate (WTI) Light Sweet Crude Oil futures, the world’s most liquid oil contract. WTI Crude Oil futures and options are the most efficient way to trade the largest light, sweet crude oil blend. Hedge to minimize the impact of potentially adverse price moves on the value of oil-related assets, or trade to express your views on oil price movements.
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Features and benefits
Deep, liquid market
Over 1 million contracts of WTI futures and options trade daily, with approximately 4 million contracts of open interest.
Global benchmark
WTI is the go-to measure for the world oil price, with the U.S. producing and exporting record amounts of crude oil.
≥ 80% margin offsets
Trade with other NYMEX oil contracts for significant savings and precise exposure.
Physical settlement
NYMEX WTI is closely connected to the spot market, reducing costs. Financial look-alike products offer an alternative to clients looking for cash-settlement.
60/40 US tax treatment
Enjoy 60% long-term, 40% short-term treatment on capital gains.
Futures leverage
Control a large contract value with a small amount of capital. Used properly, futures are a powerful way to increase capital efficiency and exposure.
Explore this product in depth
Track forward-looking risk expectations on WTI Crude Oil with the CME Group Volatility Index (CVOLTM), a robust measure of 30-day implied volatility derived from deeply liquid options on WTI Crude Oil futures.
CME Direct
Trade the markets all on one screen
Access the world's only liquid Crude Oil Weekly options market on CME Direct, a one-stop trading platform for futures, options and blocks.
- Right click on the titles above and save the files as an .xml to your computer.
- Import the grids into CME Direct with the Import View in the main menu.
PRODUCTS
Micro WTI Crude Oil options
Options on Micro WTI futures are now trading. Building on the strength and liquidity of Micro WTI futures, Micro WTI options can add versatility to your crude oil strategies.
NYMEX WTI and the oil market ecosystem
Spread NYMEX WTI with other liquid NYMEX energy benchmarks to easily capture inherent price relationships, and get cross-margin savings, operational efficiencies, and lower costs.
NYMEX WTI Crude and NYMEX RBOB Gas
Gasoline prices are impacted by crude oil price changes and can be traded with RBOB futures or RBOB as a spread to WTI.
NYMEX WTI Crude and NYMEX Heating Oil and ULSD
Crude oil costs account for 56% of the average price of a gallon of heating oil or ultra-low-sulfur diesel.
NYMEX WTI Crude and NYMEX Brent Oil
North Sea Brent represents the price of light, sweet crude oil in Europe. Trade the spread between these two crudes at NYMEX for increased efficiency.
NYMEX WTI Crude and DME Oman Oil
Trade the relationship between light sweet (WTI) and “sour” crude (DME Oman crude), used primarily in Asia.
Compare NYMEX WTI futures vs. other oil and energy products
- No management: fee Unlike ETFs, pay no management fee with NYMEX WTI futures
- Trade around the clock: 24 hour-access means no waiting for the ETF open as market events (U.S. elections, weather events) that impact oil prices unfold
- Unparalleled liquidity: Enjoy significantly more daily liquidity than founds with other oil instruments
- Direct exposure: Many of today’s oil and energy index ETFs use NYMEX WTI futures to get their oil market exposure
- No roll slippage: Avoid the costly loss of correlation to oil market that many oil ETFs exhibit near the futures roll
- Direct exposure: Easier to trade on oil price changes in futures vs. stocks
- No uptick rule: Easily sell short with NYMEX WTI futures, no uptick rule or special requirements to worry about
- Trade around the clock: Nearly 24-hour access enables you to react to off-hour news and events affecting the oil market
- Margin efficiency: Basket of oil company stocks requires 50% margin paid upfront vs. 3%-12% margin of NYMEX WTI contract value, translating to greater buying power
Key economic reports and factors that move markets
Check out the "Learn about Key Economic Events" course and economic release calendar at the CME Institute to learn more.
View the latest insights on trends in the Energy market.
Courses
Take self-guided courses on Crude Oil futures and options products.
If you're new to futures, the courses below can help you quickly understand the Crude Oil market and start trading.
Contact an Energy expert
Connect with a member of our expert Energy team for more information about our products.
