NYMEX
Crude Oil (WTI) (CL) Tick Value & Contract Specs
Tick value $10.00 per tick — 1,000 barrels of WTI crude oil.
- Exchange
- NYMEX
- Contract size
- 1,000 barrels of WTI crude oil
- Tick size
- 0.01
- Tick value
- $10.00
- Point value (multiplier)
- $1000
- Trading hours
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
- Margin
- Margin varies by broker and is typically higher around expiry due to physical delivery risk.
How CL tick value works
tick value = tick size × multiplier. For CL, that is 0.01 × $1000 = $10.00 per tick, per contract.
One contract represents 1,000 barrels of WTI crude oil. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
Frequently asked questions
- What is the tick value for CL?
- $10.00 per tick — a 0.01 tick size × a $1000 multiplier (point value).
- What is one CL contract worth?
- One contract represents 1,000 barrels of WTI crude oil. Notional value = price × $1000; use the tick value calculator with the current price for an exact figure.
- Which exchange lists CL?
- Crude Oil (WTI) (CL) trades on the NYMEX.
- What are the trading hours for CL?
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
- How much margin do I need to trade CL?
- Margin varies by broker and is typically higher around expiry due to physical delivery risk.
- How is P&L calculated for CL?
- P&L = (exit price − entry price) ÷ 0.01 tick size × $10.00 tick value × number of contracts. Use the tick value calculator to compute this directly.
Specs last reviewed 2026-06-01. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.