Energy & metals
What is the Crude Oil (CL) futures contract and what volume of physical barrels does one unit control?
By Easy Money Scanner · Educational reference · Not investment advice
The short answer
The CME Crude Oil (CL) contract represents 1,000 barrels of West Texas Intermediate crude, physically deliverable at Cushing, Oklahoma.
How it works
CL is among the most actively traded energy futures, used for hedging physical production and consumption and for speculative exposure.
An example
One CL contract controls 1,000 barrels of WTI crude oil.
Risk & limitations
Physically deliverable contracts carry delivery risk if held past first notice day.
Examples are hypothetical, not trade recommendations. US contract and regulatory references do not automatically apply in Canada. Rules, margin requirements and broker policies can change; confirm them with the relevant authority and your broker.