Crude Oil Futures Symbol Explained: How to Read Oil Futures Quotes
If you’re new to trading oil futures, the ticker symbols might seem confusing at first. What does “CLM25” mean? What exchange is it listed on? In this post, we’ll break down how to read crude oil futures symbols and quotes, so you can navigate platforms like a pro.
What Are Crude Oil Futures Symbols?
Crude oil futures symbols are ticker codes used to identify specific oil contracts traded on futures exchanges. Each symbol contains:
- The product code
- A letter for the expiration month
- A 2-digit year code
- Sometimes, the exchange abbreviation
Common Oil Futures Symbols
1. WTI Crude Oil Futures (CL)
- Exchange: NYMEX
- Symbol Format: CL + Month Code + Year (e.g., CLM25)
- Example: CLM25 = June 2025 WTI Crude contract
2. Brent Crude Oil Futures (BZ or BRN)
- Exchange: ICE
- Symbol Format: BZ or BRN + Month Code + Year
- Example: BRNU25 = September 2025 Brent Crude
Oil Futures Month Codes
Here are the standard codes used to represent contract months:
| Month | Code |
|---|---|
| January | F |
| February | G |
| March | H |
| April | J |
| May | K |
| June | M |
| July | N |
| August | Q |
| September | U |
| October | V |
| November | X |
| December | Z |
So, CLM25 represents June 2025 WTI crude oil futures.
Where to Find Crude Oil Futures Symbols
You’ll find oil symbols on:
- Trading platforms (e.g., ThinkorSwim, TradingView, NinjaTrader)
- Financial sites like Yahoo Finance or Investing.com
- Exchange websites (CME for CL, ICE for Brent)
Example of a Full Quote
Symbol: CLM25
Last Price: $82.40
Change: +1.22
Volume: 140,000
Expiration Date: June 2025
This quote means WTI crude for June 2025 is trading at $82.40.
Why Understanding Symbols Matters
- Helps you avoid trading the wrong month
- Ensures you understand contract expiration
- Makes platform navigation easier
- Improves execution accuracy and planning
Conclusion
Oil futures symbols may look cryptic, but they’re easy to decode once you understand the format. Learning how to read tickers like CLM25 or BRNZ24 helps you trade with precision and confidence.
FAQs About Crude Oil Futures Symbols
What does CL mean in oil futures?
CL is the symbol for WTI crude oil futures traded on the NYMEX exchange.
How do I know the contract month from a symbol?
Each month is represented by a specific letter (e.g., M = June, U = September). Combine this with the year for the full code.
What’s the difference between CL and BZ?
CL is for WTI crude oil (NYMEX), while BZ or BRN is for Brent crude oil (ICE exchange).
Can I choose any month when trading oil futures?
Yes. Most platforms let you select among several forward months, but liquidity is highest in near-term contracts.
Where can I check crude oil symbols?
You can check symbols on CMEGroup.com (for CL) and ICE.com (for Brent), or on platforms like TradingView.
