Trade Energy Futures
Trade crude oil, natural gas, and other energy contracts with transparent commissions and competitive intraday margins.
What are Energy Futures?
Energy futures are standardized contracts that let you trade the price of commodities like crude oil and natural gas without physically owning or storing the underlying commodity.
These contracts are among the most actively traded in the world, driven by supply and demand dynamics, geopolitical developments, and global economic conditions.
Energy futures trade nearly 24 hours a day, giving traders the ability to react to inventory reports, OPEC decisions, and market-moving news as it happens.
Why Trade Energy Futures?
Access one of the world’s most liquid markets
Crude oil and natural gas futures rank among the highest-volume contracts traded globally, offering tight spreads and efficient execution.
Go long or short based on your view
You can take a long or short position based on your market view, without owning the underlying commodity.
React to market-moving events in real time
Energy prices respond sharply to EIA inventory reports, OPEC decisions, and geopolitical developments across nearly 24-hour trading sessions.
Futures trading involves substantial risk and is not suitable for all investors. Leverage can work against you as well as for you.
Trade Popular Energy Futures
CL
WTI Crude Oil Futures
Tracks the price of West Texas Intermediate crude oil, the primary U.S. benchmark for global oil markets.
MCL
Micro WTI Crude Oil Futures
One-tenth the size of the standard CL contract, offering the same exposure with smaller margins and tick value.
NG
Natural Gas Futures
Tracks the price of Henry Hub natural gas, one of the most volatile and weather-sensitive energy contracts available.
MNG
Micro Natural Gas Futures
One-tenth the size of the standard NG contract, offering the same exposure with smaller margins and tick value.
View all available contracts
| Code | Product Name | Multiplier | Min. Tick Size | Trading Hours (EST) |
|---|---|---|---|---|
| /CL | WTI Crude Oil Futures | 1,000 barrels | $0.01 = $10.00 | Sun 6 PM – Fri 5 PM |
| /QM | E-mini WTI Crude Oil Futures | 500 barrels | $0.025 = $12.50 | Sun 6 PM – Fri 5 PM |
| /MCL | Micro WTI Crude Oil Futures | 100 barrels | $0.01 = $1.00 | Sun 6 PM – Fri 5 PM |
| /NG | Henry Hub Natural Gas Futures | 10,000 MMBtu | $0.001 = $10.00 | Sun 6 PM – Fri 5 PM |
| /QG | E-mini Henry Hub Natural Gas Futures | 2,500 MMBtu | $0.005 = $12.50 | Sun 6 PM – Fri 5 PM |
| /MNG | Micro Henry Hub Natural Gas Futures | 1,000 MMBtu | $0.005 = $5.00 | Sun 6 PM – Fri 5 PM |
| /NN | Henry Hub Last Day Financial Futures | 10,000 MMBtu | $0.001 = $10.00 | Sun 6 PM – Fri 5 PM |
| /RB | RBOB Gasoline Futures | 42,000 gallons | $0.0001 = $4.20 | Sun 6 PM – Fri 5 PM |
| /QU | E-mini RBOB Gasoline Futures | 21,000 gallons | $0.0001 = $2.10 | Sun 6 PM – Fri 5 PM |
| /HO | NY Harbor ULSD Futures | 42,000 gallons | $0.0001 = $4.20 | Sun 6 PM – Fri 5 PM |
| /QH | E-mini NY Harbor ULSD Futures | 21,000 gallons | $0.0001 = $2.10 | Sun 6 PM – Fri 5 PM |
| /MHO | Micro NY Harbor ULSD Futures | 10,500 gallons | $0.0001 = $1.05 | Sun 6 PM – Fri 5 PM |
| /CU | Chicago Ethanol Platts Futures | 29,000 gallons | $0.001 = $29.00 | Sun 6 PM – Fri 5 PM |
| /H4 | New York HDD Monthly Futures | $20 x HDD Index | 1 index point = $20 | Sun 6 PM – Fri 5 PM |
| /H2 | Chicago HDD Monthly Futures | $20 x HDD Index | 1 index point = $20 | Sun 6 PM – Fri 5 PM |
| /K4 | New York CDD Monthly Futures | $20 x CDD Index | 1 index point = $20 | Sun 6 PM – Fri 5 PM |
| /K2 | Chicago CDD Monthly Futures | $20 x CDD Index | 1 index point = $20 | Sun 6 PM – Fri 5 PM |
Start Trading Energy Futures
Trade Micro Energy Futures with Lower Costs
At 1/10th the size of the standard contract, Micro energy futures give you access to the same crude oil and natural gas markets with smaller position sizes, lower margin requirements, and more flexibility in how you manage trades.
- Same markets as the standard contracts — WTI crude oil and Henry Hub natural gas
- Proportionally smaller tick values for more precise position sizing
- A practical way to build experience in energy markets with less capital at risk
Start Trading Futures with a Low-Cost Broker
Open a MetroTrade account and access CME futures markets with low commissions, competitive margins, and a platform built for active traders.
Frequently Asked Questions
What are energy futures?
Energy futures are standardized contracts that allow traders to buy or sell an energy commodity, such as crude oil or natural gas, at a set price on a future date. Most retail traders use them to speculate on price direction rather than to take physical delivery of the commodity.
What drives the price of energy futures?
Energy futures prices are influenced by a range of factors including OPEC and OPEC+ production decisions, U.S. Energy Information Administration (EIA) inventory reports, global economic growth expectations, geopolitical events in major oil-producing regions, and seasonal demand shifts for heating and cooling.
When do energy futures trade?
Most CME energy futures trade Sunday through Friday, from 6:00 PM ET to 5:00 PM ET the following day, with a one-hour daily break. Trading activity is highest during the U.S. session, particularly in the morning hours when inventory data and economic reports are released.
What is the difference between CL and MCL futures?
Both contracts track the price of West Texas Intermediate crude oil. The standard CL contract represents 1,000 barrels of oil with a tick value of $10.00. The Micro WTI (MCL) is one-tenth the size, representing 100 barrels with a tick value of $1.00, making it more accessible for traders with smaller accounts.
Do energy futures involve physical delivery?
Standard energy futures contracts like CL do have physical delivery provisions at expiration. However, most retail traders close or roll their positions before the contract expires to avoid delivery obligations. It is important to be aware of expiration dates and first notice days for any energy contract you trade.
How much margin is required to trade energy futures?
Intraday margin requirements for energy contracts vary by contract and are updated periodically. View current requirements on our margins page.
Can beginners trade energy futures?
Energy futures, particularly crude oil, are known for high volatility and can involve significant risk. The Micro WTI Crude Oil (MCL) contract offers a smaller entry point with reduced margin requirements and tick values compared to the standard CL contract. Newer traders should ensure they understand the contract specifications and have a clear risk management plan before trading.