OILTRADING 
Crude oil root symbols.
Every crude oil trading product starts with a root symbol. The front-month contract appends a month code and year digit - but for signals, analysis, and search, the root symbol is what matters.
| Symbol | Name | Exchange | $/Cent | Tick | Tick $ |
|---|---|---|---|---|---|
| CL | WTI Crude Oil Futures | NYMEX/CME | $10/cent | 0.01 | $10.00 |
| MCL | Micro WTI Crude Oil Futures | NYMEX/CME | $1/cent | 0.01 | $1.00 |
| BZ | Brent Crude Oil Futures | ICE | $10/cent | 0.01 | $10.00 |
| USOIL CFD | WTI Crude Oil CFD | Broker | Varies | Varies | Varies |
| WTI CFD | WTI Crude CFD (alt) | Broker | Varies | Varies | Varies |
| UKOIL CFD | Brent Crude CFD | Broker | Varies | Varies | Varies |
Oil futures month codes.
NYMEX crude oil futures use single-letter month codes for all 12 months. Unlike equity index futures that only trade quarterly, oil futures have monthly expirations. A full contract symbol combines root + month + year: CLN6 = CL July 2026.
How to read a full contract: CLN6 = CL (WTI Crude Oil) + N (July) + 6 (2026). On some platforms the year is two digits; others use four. Most trading platforms auto-select the front month when you type just CL.
How each platform displays oil symbols.
CLN6 Root + month code + 1-digit year. Front-month auto-selected. Type "CL" and the platform fills the rest. Brent: BZN6.
CL 07-26 Root + space + month-year. Alternatively accepts CLN6 format. Continuous contract: CL ##-##. Brent: BZ 07-26.
NYMEX:CL1! Exchange prefix + root + contract number + ! for continuous. For specific month: NYMEX:CLN2026. Brent: ICE:B1!.
USOIL CFD brokers use USOIL or XTIUSD for WTI. Brent: UKOIL or XBRUSD. Not the exchange symbol - broker-specific naming.
/CL Forward slash + root for continuous. For specific month: /CLN26. Micro: /MCL or /MCLN26. Brent: /BZ or /BZN26.
CL Root symbol. IB auto-selects the front month. For continuous data use CL-IND or add @NYMEX suffix. Brent: BZ or BZ-IND.
CL Root symbol with auto front-month. Or CL-202607-NYMEX for specific month. Continuous: CL-##-NYMEX. Brent: BZ-202607-ICE.
USOIL CFD platforms typically use USOIL or XTIUSD for WTI. Brent: UKOIL. Broker-dependent naming conventions apply.
Every way traders search for oil futures.
Traders search for oil futures signals using dozens of variations. Here is every common naming pattern - these are all covered by our signal pages and glossary.
Oil futures FAQ.
What does CL stand for in futures trading? ▼
CL is the NYMEX/CME ticker symbol for WTI Crude Oil futures - the most liquid commodity futures contract on earth. One CL contract represents 1,000 barrels of crude oil. Each cent of movement equals $10 per contract. CL trades nearly 24 hours daily on CME Globex and is the reference price for all US crude oil transactions worldwide. When traders say "oil is at $72," they mean the front-month CL futures price.
How do I read a full oil contract code like CLN6? ▼
CLN6 breaks down as: CL (WTI Crude Oil) + N (July - the month code) + 6 (2026). So CLN6 = CL July 2026 contract. Oil futures expire monthly around the 20th of the month prior to delivery. The 12 month codes run F=Jan through Z=Dec in calendar order. Unlike equity index futures that only trade quarterly (H, M, U, Z), oil futures have all 12 month codes active at any given time.
What's the difference between CL, MCL, and USOIL? ▼
CL is the standard WTI Crude Oil futures contract at $10 per cent on NYMEX. MCL is the Micro version at $1 per cent - 1/10th the size and designed for smaller accounts. USOIL is the CFD name used by forex/CFD brokers on MT4/MT5. All three track the identical WTI crude oil price. Choose CL for direct futures access, MCL for smaller account sizing, and USOIL for CFD/flexible leverage on forex broker platforms.
Can I trade oil futures on Tradovate or NinjaTrader? ▼
Yes - both Tradovate and NinjaTrader support CL, MCL, and BZ futures. Simply type the root symbol (CL, MCL, or BZ) and the platform auto-selects the front-month contract. Both brokers offer competitive intraday margins. On Tradovate, CL margins are typically $500-$1,000 intraday. On NinjaTrader, use the format CL 07-26 or CLN6 depending on your version.
Do your signals work for all oil symbols on this page? ▼
Yes - our oil signals are based on WTI crude oil price levels and work across every vehicle: CL futures, MCL micros, BZ Brent futures, USOIL CFDs, and USO ETF. The underlying crude price is identical - you simply convert the cent move to your contract size. Each signal includes entry (in cents), stop-loss, and three take-profit targets with suggested position sizing.
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