Crude oil futures (CL and MCL)
Crude oil moves sharply around supply news, OPEC decisions and the weekly US inventory report. A $1 move is $1,000 on one mini.
Tick size
0.01
smallest price move
Per tick
$10 / $1
CL / MCL
Per point
$1,000 / $100
per $1 move
Contract months
Every month
check your platform's contract
- Exchange
- NYMEX (part of CME Group), traded electronically on Globex
- Contract size
- CL: 1,000 barrels of WTI crude oil. MCL: 100 barrels.
- Contract months
- Every month
- Last trading day
- Three business days before the 25th of the month before delivery. Volume moves to the next month well before that.
Risk on a $2,000 drawdown
What one contract loses if the stop is hit, and how much of a typical $50K account's $2,000 trailing drawdown that uses. Example stops, before slippage and commission.
| Stop | 1 CL | 1 MCL |
|---|---|---|
| $0.20 move | $200 · 10% | $20 · 1% |
| $0.50 move | $500 · 25% | $50 · 2.5% |
| $1.00 move | $1,000 · 50% | $100 · 5% |
When it trades
CL hours
| Event | New York | Your time | Why it matters |
|---|
Globex trades Sunday 6pm to Friday 5pm New York, with a one-hour break each day. Times follow US daylight saving automatically.
Things to know
- Quoted in dollars and cents per barrel: a 50-cent stop is 50 ticks, $500 on CL or $50 on MCL.
- It rolls every month, so check which contract your platform has selected.
Contract limits at futures prop firms
Maximum contracts on a $50K evaluation. From third-party reviews checked 17 October 2026; firms change these often, so confirm on your firm's rules page.
| Topstep | Trading Combine $50K | 5 minis / 50 micros |
| Apex Trader Funding | Evaluation $50K (rules from 1 Mar 2026) | 6 |
| Take Profit Trader | Test $50K | 6 |
| MyFundedFutures | Rapid EOD $50K | Varies by plan |
| Lucid Trading | LucidFlex $50K | Varies |
| Tradeify | Growth $50K | 4 minis / 40 micros |
How the drawdown, consistency rules and fees compare: Futures prop firms guide.
Education, not trading advice. Check contract details on your platform and your firm's rules before you trade.