Commodities
1.Crude Oil
The world high demand of energy, specially fossil energy, has made crude oil became the most widely traded commodities on NYMEX (New York Mercantile Exchange).
The contract will be traded oil contracts OIL-LS is the most heavily traded on the NYMEX. OIL-LS stands for "Oil - Light Sweet" which means it is light sweet crude oil. This type of oil known for its sulfur content and low hydrogen to be a good species to be processed into premium.
OIL-LS traded in USD per barrel. According to United States standards, 1 barrel of oil is roughly equivalent to 159 liters. His own contract size is $ 100 a barrel.
2.Gold & Silver
Gold futures that we traded in futures trading is XAUUSD contract. XAU taken from "aurum", Latin for gold. While the letter "X" is the code that this contract is a contract for commodity hardware. The price of gold that we traded price of gold is pure (99%) in USD per troy ounce (1 troy ounce is almost equal to 31.1 grams).
Contract size for gold is 10 troy ounces. If we buy 1 lot XAUUSD, meaning we buy 10 trouy ounces of gold.
As for silver, his contract is XAGUSD. XAG itself comes from the word "Argentum", Latin for silver. Just like gold, silver traded in USD per troy ounce. His contract size is 500 troy ounce.
3. Natural Gas
Our natural gas contracts traded is the Henry Hub Natural Gas Futures (NatGas) is a futures contract traded on the New York Mercantile Exchange (NYMEX). Natural gas offers a tremendous opportunity by relying on a very high price volatility. Nat Gas transacted in U.S. Dollar / mmbtu (million British thermal unit) is normally defined as the base price for North American natural gas market.
For the Natural Gas contract size is 1000 mmBtu. So if we buy 1 lot NatGas, meaning we buy a 1000 mmBtu natural gas.
