Crude Oil (CL) futures: tick value, specs & position size
One CL tick is 0.01 USD per barrel = $10.00 per tick, and one point is $1,000.00 per point. A 0.2-point stop risks $200 per CL, $20 per MCL.
CL contract specifications
- Tick size
- 0.01 USD per barrel
- Tick value
- $10.00 per tick
- Point value
- $1,000.00 per point
- Contract size
- 1,000 barrels
- Exchange
- NYMEX
- Hours
- Sunday to Friday, nearly 24 hours a day with a short break
Verified against CME Group on October 27, 2026. Official CL contract specifications.
What a CL stop costs
Dollar risk per contract for common stop distances, across the CL family. Before commissions.
| Stop | Ticks | CL | MCL |
|---|---|---|---|
| 0.04 pts | 4 | $40 | $4 |
| 0.08 pts | 8 | $80 | $8 |
| 0.1 pts | 10 | $100 | $10 |
| 0.2 pts | 20 | $200 | $20 |
| 0.4 pts | 40 | $400 | $40 |
| 0.8 pts | 80 | $800 | $80 |
WTI Crude Oil contract family
CL contracts by account size
1% risk, 0.2-point stop, no commission.
| Account | CL | MCL |
|---|---|---|
| $25,000 | 1 | 12 |
| $50,000 | 2 | 25 |
| $100,000 | 5 | 50 |
| $150,000 | 7 | 75 |
Trading CL: what moves it and who trades it
Light sweet crude oil futures, symbol CL, trade on NYMEX. The contract size is 1,000 barrels. The minimum price fluctuation is $0.01 per barrel, and that tick is worth $10. Point value is $10 / 0.01 = $1,000, which is the same result as 1,000 barrels times a $1.00 price change.
Micro WTI crude oil, symbol MCL, is 100 barrels. It uses the same $0.01 tick, worth $1. Ten MCL contracts equal one CL contract in barrel terms and in tick dollars: 10 × $1 = $10. A stop of $0.50 is 50 ticks. Fifty CL ticks are $500 before commission. Fifty MCL ticks are $50. A $500 risk budget at that stop sizes to 1 CL or 10 MCL.
A one-dollar price stop is 100 ticks and $1,000 per CL contract, so a budget under $1,000 cannot hold one CL at a $1.00 stop. The calculator shows zero CL and the MCL count for the same distance. CL is quoted in U.S. dollars per barrel.
Related contracts
CL FAQ
How much is one CL point worth?
One point is $1,000.00 per point. That is tick value divided by tick size.
How many MCL equal one CL?
10 MCL equal one CL.
What account size do I need for one CL?
At a 0.2-point stop, one CL risks $200 before commission. At 1% risk that is a $20,000 account. A smaller account can still trade a smaller contract in the same family when one exists.
Funded Futures Network
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