Crude Oil WTI (CL) – Knowledge
Specs • Seasonality • Supply chain • COT • Reports • Producers • Trading notes
1️⃣ Contract Specifications
| Exchange / Symbol | NYMEX (CME) / CL (WTI) |
|---|---|
| Contract Size | 1,000 barrels |
| Tick Size | $0.01/bbl = $10 per contract |
| Point Value | $1.00/bbl = $1,000 |
| Months | All listed |
| Settlement | Physical delivery, Cushing (OK) |
| Trading Hours | Globex nahezu 23h; Peak-Liquidität US-Session. Zeiten beim Broker prüfen. |
2️⃣ Seasonality Overview
- Frühjahr: Raffinerie-Turnarounds → geringerer Rohölbedarf
- Sommer: Driving Season → ↑ Benzinnachfrage (stützt Cracks)
- Herbst/Winter: Destillate (Heizöl/Jet) tragen Nachfrage
3️⃣ Supply Chain & Flows
- Upstream (Förderung) → Midstream (Pipelines/Storage) → Downstream (Refining, Produkte)
- US Benchmarks: WTI (Cushing); global: Brent (Seaborne)
4️⃣ COT Insights
- Managed Money trendfolgend; Producer/Merchants hedgen
- COT Index > 85 = Long-Sättigung • < 15 = Washout-Zone
5️⃣ Key Reports & Events
- EIA Petroleum Status (wöchentlich, Lager/Refinery runs)
- API (Di), Baker Hughes Rigs (Fr)
- OPEC/OPEC+ Meetings & Monthly Reports
- Makro: FOMC, CPI, USD
6️⃣ Top Producers / Flows
- USA, Saudi-Arabien, Russland, Kanada, Irak, UAE
- US Shale (Permian) ist taktischer Swing-Producer
7️⃣ Costs & Market Drivers
- OPEC-Politik, geopolitische Risiken, Lagerbestände
- Raffineriemargen (Crack Spreads: 3-2-1 etc.)
- USD-Stärke (inverse Wirkung)
8️⃣ Correlations & Proxies
- USD (negativ), Aktien/High-Yield (zyklisch)
- ETFs/CFDs: USO, WTI-CFDs
9️⃣ Trading Notes / My Take
Ich synchronisiere Setups mit EIA/API, COT-Extremen und Crack-Spreads (RB/HO vs CL). Achtung auf OPEC-Headlines.
Disclaimer: Educational only. Handelszeiten/Spezifikationen beim Broker prüfen.