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What is the Symbol of Oil?

Last Updated: Apr 21, 2015 08:52AM CDT

In v2.x you can use $OIL.  In version 1.x you'll have to do it manually.  Keep reading to find out how to manually track oil prices and how Stock + does it for you in v2.

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When you see the price of crude oil or price of a barrel of oil, what you are actually seeing is the futures price.  Oil, like any other commodity is traded speculatively ahead of time.  This means that the price you see on the news is actually the agreed upon price for the future.

You can look up the future contract symbol for oil.  The only catch is that, like time, the symbol is constantly changing.

An example futures symbol for oil would be "CLX13.NYM"

"CL" stands for Crude Light
"X" denotes that this contract is for November
"13" shows the year, 2013
".NYM" says that it is being traded on the New York Mercantile exchange.

With that knowledge you can find any futures contract provided you know the month letters.  Here they are:

Jan - F
Feb - G
Mar - H
Apr - J
May - K
Jun - M
Jul - N
Aug - Q
Sep - U
Oct - V
Nov - X
Dec - Z

September 2014 Crude Light Oil would be "CLU14.NYM".

Usually, the price you see in the news is for next months contract.  So if this month is April, use May's future contract.

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