Micro Crude Oil Futures (MCL): Contract Specs, Tick Value, and How to Trade

What are Micro crude oil (MCL) futures?

Micro crude oil futures (MCL) are standardized, exchange-traded contracts on the New York Mercantile Exchange (NYMEX) representing 100 barrels of West Texas Intermediate (WTI) crude oil. At 1/10th the size of the standard CL contract, MCL has a tick size of $0.01 per barrel—equal to $1.00 per tick—and trades nearly 24 hours a day, five days a week. 

Traders use MCL futures to access the crude oil market with lower margin requirements and reduced capital at risk compared to the full-sized contract. Other advantages of trading Micro crude oil futures include: 

  • The ability to target opportunities in a popular energy market
  • Highly leveraged investment for more buying power 
  • Reduced financial commitment vs. a larger crude oil contract
  • Increased flexibility for position management

Trade Micro crude oil futures with only $100 margins and control a larger contract value in the world’s most active oil markets.

Disclaimer: Leverage also increases the risk associated with futures trading, and only risk capital should be used for trading.

Open Account

Why traders choose Micro crude oil futures

When you open your account to trade Micro crude oil futures at NinjaTrader, you get access to a seamless, cloud-based trading experience and platforms outfitted with a wide variety of professional tools and services. Take full advantage of our unlimited simulated futures trading, discount commissions, award-winning charting and analysis, and more:

  • 100+ indicators included
  • 1,000s of third-party trading apps available
  • Unfiltered professional market data
  • Unlimited support and daily training

Third-Party Rating Disclosure

NinjaTrader was recognized as the "Best Trading Software" by Technical Analysis of Stocks & Commodities (TASC) Readers' Choice Award for 2021, 2022, 2023, and 2024. Technical Analysis of Stocks & Commodities (TASC) determines the ratings based on reader voting among subscribers. NinjaTrader paid no application fee to participate. NinjaTrader was also recognized as the "Best Futures Broker" by BrokerChooser.com for 2025 and 2026. BrokerChooser.com determines the ratings based on evaluation and real-account testing of brokers. NinjaTrader paid no application fee to participate.

NinjaTrader offers MCL trading through its NYMEX-connected futures brokerage, with competitive per-contract commissions, no platform fees^ on live accounts, and $0 account minimums* to get started.

The NinjaTrader platform's simulated trading environment lets traders practice MCL setups risk-free with live market data before committing real capital—an especially valuable feature given that crude oil markets move quickly on geopolitical and supply news.

Simulated Trading Disclosure

Simulated trading does not represent actual trading and is based on hypothetical conditions. Actual trading results may differ significantly due to factors such as market conditions, liquidity, execution, and the emotional and psychological impact of risking real money. Simulated trading is provided for educational and platform-familiarization purposes only and should not be relied upon as an indication or expectation of results in a live trading environment.

NinjaTrader's Order Flow+ tools, including volumetric bars, are available for MCL charts, giving traders the same order flow visibility on the Micro contract as on the full-sized CL.

Start Trading
NinjaTrader desktop trading platform showing Micro crude oil futures charts and order flow tools NinjaTrader trading platform displayed on portable device showing futures charts and analysis tools

How to start trading Micro crude oil futures with NinjaTrader

Ready to start trading Micro crude oil futures? NinjaTrader is here to support you. With award-winning features and free access to support and market insights, the NinjaTrader platform comes equipped with all the tools you need to embark on your trading journey.

Open Account

Frequently Asked Questions

Micro crude oil futures contracts are available for trading 23 hours a day, 6 days a week. This availability allows you to react quickly to any breaking news that impacts the crude oil market.
Micro crude oil futures have a much lower financial barrier to entry than full-sized crude oil futures. Because Micro crude oil futures operate at 1/10 the size of the standard crude oil contract, the financial commitment is greatly reduced. Micro crude oil futures contracts have a $1 tick value and $100 point value, compared to full-sized crude oil futures’ $10 per tick and $1000 per point.